FameEX Morning Crypto News Recap | December 12, 2024

Nasdaq Composite Index Surpasses 20,000 Points for the First Time, Achieving a 38.82% Annual Growth

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.

More than 1.3 Million Bitcoin Wallets with Balances Between $94,800 and $97,700

IntoTheBlock reported that 482,000 addresses bought Bitcoin between the current price and $100,000. However, the most significant accumulation zone lies 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 Acquire Over $500 Million in Ethereum in Just 48 Hours

Arkham monitoring reveals BlackRock and Fidelity bought over $500 million in ETH within the last 48 hours.

Sharp Altcoin Leverage Decline This Week

This week, the altcoin market faced its largest intraday long liquidation since May 2021. K33 analysts noted profitable long bets post-election increased altcoin open interest from 3.57% to 4.42%. However, Monday's liquidations slashed leverage by $12.8 billion, reducing relative leverage to 3.96%.

Stablecoins May Bolster the U.S. Dollar's Global Influence

Citibank's latest report suggests that stablecoins could reinforce the US dollar's dominance. Most stablecoins are pegged to the dollar, and issuers hold US dollars and Treasury bonds. Legalizing stablecoins could boost the dollar's dominance, enhance stablecoin appeal, and increase demand for US Treasury bonds by stablecoin issuers.

Goldman Sachs CEO Affirms Continued Cryptocurrency Consulting Services

On December 11 at the Reuters NEXT conference, Goldman Sachs CEO David Solomon stated that as a regulated bank, Goldman Sachs cannot directly hold cryptocurrencies like Bitcoin. However, the bank will continue offering 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.