21/11/2024 Evening Reports
Is $100K just the beginning for Bitcoin?
Historic Milestone in Sight
Bitcoin surged to $98,342, just shy of the symbolic $100,000 mark. The crypto market gained $900 billion since Trump’s election victory on Nov. 5.
Trump’s Pro-Crypto Stance
President-elect Donald Trump’s pivot from crypto skepticism to full-fledged support is fueling optimism. His promises include:
- A pro-crypto regulatory framework
- Establishing a White House digital-asset post
- Exploring a US Bitcoin stockpile
Market Enthusiasm
- US Bitcoin ETFs saw $5.8 billion in inflows, pushing total assets to a record $100 billion.
- MicroStrategy plans to boost Bitcoin holdings with a $2.6 billion convertible notes sale, solidifying its position as a Bitcoin treasury giant.
Psychological $100K Barrier
Market experts highlight $100K as a symbolic victory over skeptics. Traders predict heightened volatility as Bitcoin inches closer to this landmark.
From Skeptic to Advocate
Trump’s transformation into a crypto champion stems from massive digital-asset industry lobbying during the campaign. His win signifies a potential end to SEC crackdowns that plagued the market post-2022.
The Big Picture
With demand “insatiable” and industry shifts underway, Bitcoin’s $100K moment may redefine its role as a modern-day store of value and investment powerhouse.
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Markets Brace as Nvidia’s Guidance Shakes Confidence
Stock futures edged higher Thursday as Nvidia’s earnings kept markets on edge. While the chipmaker smashed expectations, its softer revenue guidance raised questions about future AI-driven growth. Oil prices surged, reflecting energy market strength, while jobless claims dipped, signaling resilience in the economy. Mixed signals from manufacturing data and housing sales kept investors cautious, making today’s session one to watch closely.
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