Bitcoin Breaks $100,000 as the Crypto Market Aims to Redefine Itself Under Trump
Bitcoin has broken through the 0.1 million dollar mark, is it about to become a "mainstream currency"? Analyst's quick review.
① The usa president-elect Trump nominated conservative lawyer Atkins as chairman of the SEC on Wednesday, causing bitcoin to rise sharply, breaking the 0.1 million dollar mark; ② Analysts generally believe that Atkins' appointment will push this global largest crypto closer to becoming "mainstream currency."
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Trump has ignited the cryptocurrency market, and in November, the trading volume of digital coins has historically surpassed 10 trillion dollars.
According to data collected by CCData, the combined trading volume of cryptos doubled in November. Spot trading volume increased by 128%, reaching 3.43 trillion dollars, the second highest figure since May 2021; derivatives trading volume grew by 89%, reaching 6.99 trillion dollars, setting a new record.
Hong Kong stocks morning report on December 5: Most china concept stocks fell, Meitu cleared its crypto profits of about 0.571 billion yuan.
The latest Beige Book survey from the Federal Reserve shows a slight increase in economic activity in November. Federal Reserve Chairman Powell stated that the Fed can remain cautious when looking for the neutral interest rate. President Trump selected digital assets advocate Paul Atkins to be the chairman of the U.S. Securities and Exchange Commission, causing a surge in cryptocurrencies and related stocks. The three major U.S. stock indexes hit record highs on Wednesday, while most popular China concept stocks fell.
Crypto Trading Volume Surged to $10 Trillion for the First Time in November
Trump nominates crypto-friendly Paul Atkins as SEC chairman, bitcoin rises over a thousand dollars during trading.
After taking office, Atkins is expected to focus on reducing regulations and easing regulatory penalties. He is currently the CEO of the consulting firm Patomak Global Partners. The institution states that since 2017, Atkins has been 'serving as the Co-Chair of the Token Alliance, an advocacy organization in the cryptocurrency industry, dedicated to developing best practices for digital asset issuance and trading platforms.' Trump stated that Atkins recognizes that digital assets and other innovations are crucial to making the USA greater than ever before.
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bitcoin fell below 0.096 million mark with intense fluctuations! Will December see a pullback or another surge to new highs? Which altcoins have the potential to continue exploding with double-digit gains?
With bitcoin entering a slow and oscillating uptrend, it is more suitable to look for those popular track altcoins that are more resistant to declines and buy them in batches, in order to seek higher returns in the upcoming ethereum rapid surge market!
How did the cryptocurrency market perform before and after Trump took office?
Data shows that historically, the market performs well after presidential elections, and then enters a stagnation phase after the elected president takes office.
Nasdaq, S&P hit new highs, French stock and bond yields fluctuate and rise, Euro once fell more than 1%, Dollar rose.
On the first trading day of December, Cyber Monday shopping amounts will break records, with the Nasdaq and Chinese concept stocks rising about 1%, and the chip index leading with a 2.6% increase, while the Dow fell from its peak. Tesla soared over 4% during the day, intel rose nearly 6% before turning negative, super micro computer surged nearly 29%, and Xpeng autos climbed over 5%, but Li Auto dropped nearly 4%. The French government faces a vote of no confidence, causing French stocks to briefly fall over 1%, and the spread between French and German government bond yields approached the widest in twelve years. US henry hub natural gas fell over 4%, the indian rupee hit a new low, and the offshore yuan dropped over 400 points, falling below 7.29 yuan.
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