Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Expectations of a pause in interest rate cuts next year have caused a setback for US stocks. This week, attention is focused on the Federal Reserve's interest rate meeting

Expectations of a pause in interest rate cuts next year have caused a setback for US stocks. This week, attention is focused on the Federal Reserve's interest rate meeting

Bitget2024/12/16 04:00

According to reports, last week the S&P 500 halted its three-week winning streak, falling 0.64% for the week; the Dow Jones dropped 1.82%, marking its seventh consecutive trading day decline; while the Nasdaq rose 0.34%, breaking the 20,000 point mark for the first time. Bitcoin surged back above $100,000 last week, recording its longest seven-week winning streak since 2021. The altcoin market cooled down with a significant pullback overall. Bitcoin ETFs saw a net inflow of $2.115 billion for the week, with Ethereum ETFs receiving about $712.7 million, and stablecoin supply increased by $2.1 billion, indicating continued bullish sentiment from investors.

As of this writing, Bitcoin has surged, breaking its historical high to reach $106,648, with the top ten cryptocurrencies experiencing gains ranging from 1% to 4%. In the forex and commodities markets, the U.S. Dollar Index was strong, breaking above 107 and maintaining a two-week high on Friday, while non-U.S. currencies generally fell over the week. Global oil prices saw a substantial rise last week driven by geopolitical tensions, and with expectations of an imminent Fed rate cut next week, spot gold rose 0.56% for the week.

This week's most anticipated economic event is the Federal Reserve's FOMC meeting on Wednesday, followed by the rate decision and quarterly economic projections on Thursday. Market expectations for a 25 basis point rate cut in December have been fully priced in, and there is anticipation that rate cuts next year will be more cautious and gradual, possibly even pausing in January. Additionally, this week marks the final “super central bank week” of 2024, with up to 25 central banks, including those from Japan, the UK, and Sweden, discussing interest rates in the same week, which could trigger significant market volatility, especially in the around-the-clock forex and commodities markets.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!