U.S. stocks rallied broadly last night, driven by strong performances from large-cap and technology stocks. Data showed that the Dow Jones Industrial Average rose by 0.91%, while the Nasdaq and S&P 500 indices increased by 1.35% and 1.1%, respectively, shaking off the gloom cast by disappointing U.S. consumer confidence data and the Federal Reserve’s slowing pace of interest rate cuts.
At the same time, Bitcoin experienced a sudden shift from a precarious trend to a strong rebound starting at 8 PM, rising over 4% within four hours, and reaching a high of $99,480 by this morning.
It is noteworthy that this upward momentum, which aligns with traditional finance, seems to primarily reflect in Bitcoin rather than in other altcoins. The changes in Bitcoin’s market share indicate that this rebound is mainly driven by Bitcoin, with the upward momentum of other altcoins not matching the strength seen the previous day.
However, it is essential to emphasize that we are currently in the Christmas season, during which overall market liquidity tends to be weaker than usual. Therefore, investors must remain cautious in managing the risks associated with extreme volatility.
(This article is reprinted with permission from GT Radar)
About GT Radar
GT Radar focuses on creating long-term stable growth quantitative investment portfolios, with over 10 years of experience in stock and cryptocurrency quantitative trading. The trading system integrates over 150 strategies, aiming to provide high adaptability and flexibility to ensure profits from the market in the most robust manner.
Join the GT Radar discussion group
Weekly market analysis reports