U.S. stock indexes fell slightly yesterday (December 30), while silver and gold rebounded after a sharp drop from record highs. The cryptocurrency market rose 1.03% in the past 24 hours, reversing a previous seven-day losing streak. Although Bitcoin (BTC) recovered slightly to 88K, digital asset finance companies (DATs) remained weak. Prenetics Global Limited, a health supplement company backed by football superstar David Beckham, announced it was abandoning its further Bitcoin purchase strategy after raising $48 million to buy 510 Bitcoins.
U.S. stocks fell slightly, while silver and gold rebounded after a sharp drop from record highs.
U.S. stocks closed lower after the minutes of the Federal Reserve's most recent meeting revealed that most Fed officials supported interest rate cuts if inflation continued to slow. However, the minutes also highlighted divisions among policymakers, with some officials advocating for rates to remain unchanged "for some time" after three rate cuts this year.
According to the CME FedWatch Index, most traders believe the Federal Reserve will keep interest rates unchanged at the beginning of next year, with the total rate cut for the whole year being only 2 basis points.
The three major U.S. stock indexes fell slightly, while silver and gold rebounded after plunging from record highs.
Apart from the release of the Federal Reserve meeting minutes, the market has generally lacked major catalysts to drive market trends in recent days, especially with relatively flat news releases and trading volumes. Investors seem to have already started their vacations early.
Crypto markets saw a slight rebound as a health supplement company backed by Beckham abandoned its plans to buy Bitcoin.
The cryptocurrency market rose 1.03% in the past 24 hours, bringing its market capitalization to $2.99 trillion, reversing a previous seven-day losing streak.
Despite the derivatives trading activity suggesting a recovery in risk appetite, Bitcoin's 59% market share indicates that capital remains defensive, with the fear-greed index still in the fear zone of 29.
Despite a slight recovery in cryptocurrency prices, digital asset finance companies (DATs) remain weak. Prenetics Global Limited , a health supplement company backed by football superstar David Beckham, announced it was abandoning its strategy of purchasing 510 bitcoins after raising $48 million.
This company is not the only digital asset firm updating its accumulation plans amid the crypto market downturn. Earlier this month, ETHZilla , the Ethereum bond backed by Peter Thiel, announced its decision to focus on Real-World Asset Tokenization (RWA) strategies rather than continuing to hoard Ether, while many other companies have launched share buyback programs. With the price of DAT failing to rise as much as investors expected, its survival is under serious scrutiny, and MSCI's decision on January 15th regarding whether DAT should be removed from its indices is a crucial test of its legitimacy.
This article, titled "US Stocks Fall Slightly, Bitcoin Holds Steady at 88K, DAT Quietly Exits the Market?", first appeared on ABMedia, a ABMedia .
