Forex Market Overview All market | Anton Bykov 21 December 2024

18.12.2024 11:12

Crypto Week: Trump Pump, Luxury Supports Crypto, While “Penguins” Are Sinking

Bitcoin (BTC) has risen by 1.0% to $103,940 this week, retreating from a new all-time high of $108,344 reached on Monday. The surge in BTC prices followed a meeting between U.S. President-elect Donald Trump and Crypto.com CEO Kris Marszalek at Trump’s Mar-a-Lago residence. While no details of the discussion were disclosed, Crypto.com dropped its lawsuit against the U.S. Securities and Exchange Commission (SEC) the same day. Trump reiterated his intention to establish a U.S. Bitcoin strategic reserve, a statement that became the focal point of market attention.

13.12.2024 09:12

Weekly Summary: Investors Switch to a Waiting Mode Ahead of the Fed Meeting

Anton Bykov

The S&P 500 broad market index is down 0.4% to 6063 points, marking a week without any new record highs as the benchmark remains below its peak of 6099 points. It appears unlikely that the index will climb higher before the Federal Reserve (Fed) meeting next week. Investors have been closely monitoring U.S. inflation data, which offered limited guidance for market direction. While consumer prices rose as expected to 2.7% YoY from 2.6%, producer prices unexpectedly jumped to 3.0% YoY, surpassing the neutral forecast of 2.6%.

11.12.2024 12:12

Crypto Week: Formidable Willow, Microsoft and U.S. Crypto Reserves Dreams

Anton Bykov

Bitcoin (BTC) has declined by 2.0% this week to $97,990, retreating to the midpoint of its $90,000–100,000 trading range after recently surpassing the psychological $100,000 level. The pullback highlights growing investor uncertainty, exacerbated by profit-taking from long-term miners selling at elevated levels. This volatility reflects the market’s heightened sensitivity to negative developments. Alphabet’s announcement of its next-generation quantum computer, "Willow," intensified market jitters.

09.12.2024 11:12

Weekly Focus: U.S. Inflation and ECB Meeting

Anton Bykov

The S&P 500 index futures are trading flat at 6082 this week, following a sixth consecutive all-time high of 6099 points achieved last Friday. The U.S. labor market report for November presented a mixed picture. Nonfarm Payrolls surged to 227,000, surpassing the consensus of 202,000 and marking a significant jump from October’s upwardly revised 36,000 jobs. However, this positive development was countered by a rise in the unemployment rate to 4.2% from 4.1%. In response, U.S. 10-year Treasury yields fell to 4.

04.12.2024 11:12

Crypto Week: U.S. Government Sells BTC, South Korean Political Fears, 20 Upside Attempts for BTC to pass $100K

Anton Bykov

Bitcoin (BTC) is down 1.1% to $96,670, maintaining its position within the $90,000-$100,000 trading range. The all-time high of $99,658 was set on November 22, and technical patterns indicate increasing potential for significant movement in either direction. Arkham Intelligence revealed that the U.S. government has transferred nearly $2 billion worth of Bitcoin—approximately 19,800 BTC seized from the Silk Road—to Coinbase, potentially signaling an imminent sell-off.

29.11.2024 11:11

Weekly Summary: S&P 500 at New Highs

Anton Bykov

S&P 500 broad market index futures are rising by 0.75% to 6015 points this week slightly retreating from the new all-time high at 6028 points. The record is just a notch away from the previous peak at 6026 points. There is no single reason for a new record. Investors are seem to like U.S. President-elect Donald Trump new Treasury Secretary appointment. Scott Bessenet, a prominent investor, is a comfortable figure for investment society. Strong macroeconomic data contributed to overall positive sentiment. U.S. Q3 GDP slowed down to 2.8% QoQ from 3.

27.11.2024 11:11

Crypto Week: Sales Season Is Now On

Anton Bykov

Bitcoin (BTC) has declined by 3.9% this week, trading at $93,347, and is now 6.3% below its all-time high of $99,658. The cryptocurrency briefly touched lows of $90,872, marking a 9.0% retreat from its peak. While there are no clear fundamental drivers behind this correction, it could be partially attributed to the proposed additional import tariffs from President-elect Donald Trump or hawkish rhetoric from the Federal Reserve (Fed). Despite the short-term pullback, the mid-term outlook for Bitcoin in 2025 appears highly promising.

25.11.2024 11:11

Weekly Focus: S&P 500 at 6000, FOMC Minutes, U.S. GDP and PCE

Anton Bykov

S&P 500 index futures are up 0.4% this week, trading at 5995 points, nearing the all-time high of 6026 points. The benchmark opened the week with a gap up from last week’s close at 5970 points, a technical formation often followed by corrections to fill the gap. The rally was fueled by U.S. President-elect Donald Trump's nomination of hedge fund manager Scott Bessent as Treasury Secretary, signaling potential import tariffs targeting China and supporting expectations of continued Federal Reserve rate cuts. Following the announcement, U.S. 10-year Treasury yields fell to 4.

20.11.2024 11:11

Crypto Week: BlackRock Options, Trump Is Aiming Bakkt and Looking to Replace SEC’s Gensler

Anton Bykov

Bitcoin (BTC) is up by 4.3% this week, trading at $93,001 after reaching a new all-time high of $93,984 on November 19. The critical resistance at $89,000-91,000 has been decisively broken, paving the way toward this year’s ultimate targets of $98,000-100,000. A flurry of positive developments is driving the rally. Notably, Nasdaq successfully launched spot Bitcoin ETF options trading on Tuesday, with trading volume exceeding $2.0 billion in a single day and a 4.4-to-1 ratio favoring call options.

15.11.2024 12:11

Weekly Summary: Inflation and Powell Disappoint Investors

Anton Bykov

S&P 500 broad market index futures are rising by 1.5% to 5911 points heavily retreating from the all-time high at 6026 points set on November 11. The rally driven by Donald Trump’s presidential victory appears to be losing momentum following disappointing inflation data and hawkish comments from Federal Reserve (Fed) Chair Jerome Powell. October’s headline inflation increased to 2.6% YoY 2.4%, while core inflation remained stable at 3.3%. So, rising crude oil prices in early October did contributed to the inflation spike.