FameEX Morning Crypto News Recap | December 12, 2024

Nasdaq Composite Index Exceeds 20,000 Points  for the First Time, 38.82% Annual Growth Achieved

On December 12, the Nasdaq Composite Index reached a new all-time high, surpassing 20,000 points for the first time. This marks a significant milestone, with the index experiencing a remarkable 38.82% growth over the past year.

Over 1.3 Million Bitcoin Addresses Holding Between $94,800 and $97,700

IntoTheBlock found 482,000 addresses bought Bitcoin between the current price and $100,000. However, the strongest accumulation zone is between $94,800 and $97,700, where over 1.3 million addresses hold Bitcoin. This price range is crucial for potential price support.

BlackRock and Fidelity Invest Over $500 Million in Ethereum Within 48 Hours

Monitoring by Arkham indicates BlackRock and Fidelity invested over $500 million in ETH in the past 48 hours.

Altcoin Leverage Takes a Dive This Week

The altcoin market experienced its largest intraday long liquidation since May 2021 this week. K33 analysts observed that profitable long bets post-election raised altcoin open interest from 3.57% to 4.42%. However, Monday's liquidations reduced leverage by $12.8 billion, bringing relative leverage down to 3.96%.

Stablecoins Could Enhance the U.S. Dollar's Dominance Globally

Citibank's report indicates that stablecoins could strengthen the US dollar's dominance. Pegged to the dollar, stablecoins lead issuers to hold US dollars and Treasury bonds. Legalization could further boost dollar dominance, enhance stablecoin attractiveness, and increase stablecoin issuers' demand for US Treasury bonds.

Goldman Sachs CEO Confirms Ongoing Cryptocurrency Advisory Services

At the Reuters NEXT conference on December 11, Goldman Sachs CEO David Solomon said the bank cannot hold cryptocurrencies like Bitcoin due to regulations. However, Goldman Sachs will continue to provide consulting services to clients on cryptocurrency-related technologies and issues.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​