2023-12-04 00:45:19
Bitcoin successfully broke through the US$40,000 mark this morning (4th), setting a new high in the past 20 months, and Ethereum reached a maximum of US$2,217 at the same time.
(Recap:Federal Reserve Chairman Ball: It’s too early to expect an interest rate cut, and a rate hike is still not ruled out; Bitcoin hits $39,000）
(Background supplement:Currency Market News》Bitcoin breaks through 38200, Ethereum stands at 2100!CME Group’s BTC open interest hits new high, fear of big fluctuations）
CompareAfter Bitcoin successfully broke through the US$38,000 mark last Friday (1st), it continued to fluctuate higher. At around 06:30 this morning, it broke through the 40,000 mark in one fell swoop, reaching a maximum of $40,250, once once more setting a new high in 2023.
It was currently trading at $40,109 at the time of writing, up 1.68% in the past 24 hours.
Further reading:Confirm that the agency enters the site to scan the goods! Glassnode: 1.4 billion Bitcoins flowed out of exchanges in the past half month
At regarding the same time, Ethereum (ETH) reached a maximum of $2,217, setting a new high for the year. Deadline quoted $2,175. There was a slight correction before the deadline, and it is now trading at $2,199, up 1.47% in the past 24 hours.
If calculated from 2022, the current transaction intensive area is around $41,800, which may become a major obstacle for Bitcoin to continue to break through. However, Bloomberg ETF analysts estimate that the Bitcoin spot ETF has a 90% chance of being approved by the SEC in January next year. There may be greater fluctuations before the benefits are realized, so investors are advised to control their risks.
Federal Reserve Chairman, hawk with dove
Although the U.S. Federal Reserve (Fed) suspended interest rate hikes twice in September and November, and the CPI and PPI price data released in November also showed signs of cooling, the market generally expects this trend to start in March 2022. The most aggressive rate-raising cycle in a decade has ended, and rate cuts will begin next year.
However, Federal Reserve Chairman Jerome Powell’s speech on the 2nd dampened investors’ optimistic expectations for a sharp interest rate cut next year, saying that it is too early to declare victory over inflation.
It is too early to conclude that we have adopted a sufficiently restrictive stance, or to speculate on when policies might be relaxed.
We are also prepared to tighten policy further if appropriate.
However, he also said in his speech that U.S. monetary policy is slowing down economic growth as expected, and pointed out that the full impact of the Federal Reserve’s 5.25% interest rate hike has not yet appeared. The central bank intends to remain cautious, but it has also shown its progress so far. A new optimism.
“So far, the FOMC is proceeding cautiously as the risks of under-tightening and over-tightening become more balanced.”
Jeffrey Roach, chief economist at LPL Financial, pointed out that the market believes that today’s comments are gradually moving closer to the dovish camp; Peter Cardillo, chief market economist at Spartan Capital Securities, commented that Ball’s use of the word “balanced” conveyed a message But things are developing in the direction the Fed wants, and it predicts that the Fed will not raise interest rates once more, “The thinking in the market is that they are done raising interest rates.」。
The top ten currencies had mixed gains and losses
According to CoinMarkeCap datashowthe gains of other top 10 tokens by market capitalization in the past 24 hours have been relatively weak compared to Bitcoin and Ethereum, with the highest gains being XRP (0.6%) and TRON (0.02%).
Other tokens including: BNB, Solana (SOL), Cardano (ADA) and DOGE… all experienced slight declines.
In the past 24 hours, the amount of liquidated positions across the entire network exceeded US$107 million
In addition, according to Coinglass data51,823 investors were liquidated in the past 24 hours, with positions liquidated across the entire network exceeding US$107 million, of which BTC topped the list with US$29.28 million, followed by ETH with US$13.65 million.
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