QCP Capital: The change in the ETH/BTC exchange rate indicates that the market is turning towards ETH, and the market rebounds due to news of the appointment of the US Treasury Secretary

QCP Capital stated on its official telegram channel: "As the holiday season approaches, Bitcoin seems to have found a comfort zone above $93,000. Meanwhile, MicroStrategy recently purchased another $5.4 million of BTC at an average price of $97,862, causing its stock price to drop by 35%.

Despite this, MSTR's stock price has found support near its 20-day moving average and maintained its intraday low point with hopes of gaining support above $350. After BTC fell, ETH is recovering and rose more than 4% yesterday while BTC dropped by 1.5% during the same period. The ETH/BTC exchange rate soared from a post-election low of 0.0318 by 13%, reaching 0.0366 which indicates that the market is turning towards ETH. ETH's performance even surpassed the broader CoinDesk 20 index which only increased by 0.5%.

Wall Street hit record highs after Trump nominated Scott Bessent as Treasury Secretary boosting market sentiment.The Dow Jones Index surged by 439 points (0.49%) to reach at44,860 points; Standard Poor's500 Index broke through the major milestone of6000 points; Nasdaq Composite Index roseby0 .75%. 

Bessent outlined his 'Three Arrows' strategy for US economy aiming for a budget deficit of3 % , GDP growthof3 % , and daily oil production increaseof3 million barrelsby2028 .

Bessent’s market-friendly strategies and potential willingness to soften Trump’s tariff policies boosted optimism leading to broad rebound across markets with risk assets leading gains."