4E: Bitcoin has strong bullish sentiment in December, and this week’s “Non-Farm + Powell” will set the tone for an end-of-year interest rate cut.
Editor
2024-12-02 11:32 1,969
According to news on December 2, the rise of the “Trump deal” in November has become the dominant factor driving global market trends. According to 4E monitoring, the three major U.S. stock indexes all rose last week, with weekly gains exceeding 1%. In November, the Dow Jones Industrial Average rose 7.5% and the S&P rose 5.7%, marking their largest single-month gains this year. The Nasdaq rose more than 6%. Large-scale technology stocks generally rose. Tesla rose more than 38% in November, the most in the past two years. Well, Nvidia has gained 179.23% during the year. So far this year, the S&P 500 index has risen by more than 27%. Last year, the index rose by 24%, triggering different views on the prospects of U.S. stocks.
The crypto market’s outstanding performance in November attracted widespread attention around the world. Bitcoin has gained more than 37% monthly, and Ethereum has gained as much as 54%. Altcoins experienced a sharp rise at the end of the month, and their market share continued to expand. Bitcoin’s market share has fallen by 8.15% since the top of this bull market (61.78% on November 21). The total market value of altcoins increased by nearly 70% in November. . Historical data shows that in the year of halving, Bitcoin has experienced significant gains in December. Coupled with the fact that most of Trump’s cabinet are cryptocurrency investors, the market has a strong bullish sentiment.
In terms of bulk foreign exchange, the U.S. dollar fell by 1.67% last week, ending its eight-week winning streak, and rose by 1.72% in November. The "Trump deal" boosted the U.S. dollar in November, stalling gold's gains and triggering a post-election sell-off. Spot gold fell about 3.7% in November, the largest monthly decline since September last year. Oil prices continued to fall last week, with a weekly drop of more than 3%.
In the past few weeks, investors have focused on many of Trump's economic policies, but at the same time, changes in expectations for the Federal Reserve to cut interest rates have also appeared quite subtle. Although the market expects that the probability of further interest rate cuts in December has increased, the space for interest rate cuts in 2025 continues to decrease. Behind the "near increase and far decrease", to a large extent, it reflects anxiety about the resurgence of inflation in the future under Trump's administration. Powell's speech on Thursday and non-farm payrolls data on Friday will largely set the tone for rate cuts at the end of the year.
eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market fluctuation risks and allocate assets reasonably.