Tech stocks were weak, and the US stock market fell for the third consecutive day, with a strong year-end profit-taking sentiment. MicroStrategy announced that it has bought Bit again. Bit fell to $91,530 at one point yesterday, and it seems to have also started the Christmas and New Year holidays recently.
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ToggleTech stocks led the decline, with a strong year-end profit-taking sentiment
After the unexpected decline in the Chicago Purchasing Managers' Index data, US bond yields fell further, with the 10-year Treasury yield hovering around 4.53%. Monday's data also showed that US pending home sales rose for the fourth consecutive month in November, reaching the highest level since early 2023.
The so-called "Big Seven" US tech giants have driven the S&P 500 index to rise more than 20% this year, but have also made some people worry that the gains are too concentrated in a small number of companies. However, few believe the rally will end here, with none of the 19 strategists tracked by Bloomberg expecting the S&P 500 to fall next year.
Tim Waterer, chief market analyst at Kohle Capital Markets Pty, said: "As we approach the end of the year, people may feel a bit uneasy, partly due to the uncertainty about how the international trade landscape may shape up in 2025."
The New York Stock Exchange, Nasdaq, and Chicago Board Options Exchange will be closed on January 9 to commemorate the passing of former US President Jimmy Carter on Sunday.
(The New York Stock Exchange will be closed on January 9 to mourn former President Jimmy Carter)
MicroStrategy bought Bit again
MicroStrategy announced that it purchased 2,138 Bits during the period from December 23 to December 29, 2024, for a total transaction amount of $209 million. This acquisition brings its total Bit holdings to a staggering 446,400 Bits, with a cumulative purchase price of approximately $27.9 billion.
Bit fell to $91K at one point
Bit fell to $91,530 at one point yesterday, and it seems to have also started the Christmas and New Year holidays recently. According to the on-chain data analysis platform IntoTheBlock, the percentage of long-term Bit holders has declined, but the percentage of long-term ETH holders has risen.
However, this may also be because Bit has hit new highs frequently this year, and some long-term holders have started to take partial profits. The performance of ETH, on the other hand, has been relatively weak and has not yet surpassed its all-time high.
Risk Warning
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