The S&P 500 reached a historic high on Christmas Eve, driven by AI weights and strong GDP; the independence of The Federal Reserve (FED) and merger trends will be the focus of subsequent observations.
(Previous summary: Fidelity analyst: Bitcoin will be a “fallow year” in 2026, support range 65,000 to 75,000 dollars )
(Background information: Market share dropped from 80% to 20%, what happened to Hyperliquid?)
Last night (23rd), Bitcoin plummeted after the opening of the US stock market, hitting a low of $86,578, once again dampening the bullish momentum. As of the time of writing, it is reported at $87,658, returning to the previous range of fluctuations. With the Christmas holidays approaching, BTC may stay in this range for a longer period.
The four major U.S. stock indices closed higher.
However, the U.S. stock market remains strong, with the S&P 500 Index closing at 6,909.79 points, setting a new high. The driving forces behind this are AI leader Nvidia and unexpectedly strong, delayed third-quarter GDP data.
The U.S. Department of Commerce reported a revised GDP for the third quarter at 4.3%, which is a full 1 percentage point higher than market expectations, with personal consumption expenditures growing by 3.5% being the biggest highlight. The interest rate path was originally focused on a rate cut cycle in 2026.
All four major indices closed in the green: the Dow Jones Industrial Average rose 67 points, closing at 43,150 points; the S&P 500 rose 0.46%; the Nasdaq rose 0.57%, closing at 18,850 points; the Philadelphia Semiconductor Index rose 0.55%, closing at 5,210 points.
Market consensus: No action in January
According to CME FedWatch data, the probability that the Federal Reserve (FED) will maintain the current range of 3.5% to 3.75% has risen to 85.6%, with only 14.4% expecting a rate cut of 1 basis point (25 basis points). This shift corresponds with a moderate rebound following the release of November CPI, indicating that inflation has not yet dropped to the Fed's target range.
Chairman Powell emphasized earlier:
The current interest rate is in a good position, and the next step will depend on data adjustments.
Vice Chairman Hamak recently stated that there are greater concerns about the stickiness of inflation, and that “it is more appropriate for interest rates to be maintained at least until spring.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC breaks through $71,500, rising 4.5% in a single day, with multiple analysts' opinions diverging
March 10th, Bitcoin rose approximately 4.5%, breaking through $71,500. Despite tense tensions in the Middle East, analysts have differing views on the future market. Some believe the short-term bulls are in the lead, while others remain cautious of a potential pullback and are watching key support levels.
GateNews41m ago
Bitcoin Rises as Trump Amplifies Iran Threats, Fed Rate Cut Chances Fall Near Zero
Bitcoin's price hovers near $71,000 despite a 3% increase, as geopolitical tensions and the Federal Reserve's rate policy create market uncertainty. Oil prices have declined from recent peaks, and crypto markets face liquidation pressures amid mixed investor sentiment.
Decrypt1h ago
Crypto and TradFi Divergence Defines 2026 Market Resilience Amidst Bitcoin Sell-Off
March 2026 as traditional equities and digital assets fell sharply apart. In the first quarter A decoupling is being witnessed that challenges the notion of Bitcoin as a high-beta proxy for the stock market. After a year-end sell-off and a plunge from its 2025 highs, the S&P 500 (SPX) has shown
BlockChainReporter1h ago
ETH 15-minute increase of 1.02%: Ecosystem upgrade expectations resonate with active buying, driving the rally
From 14:30 to 14:45 (UTC) on March 10, 2026, ETH recorded a short-term gain of +1.02%, with the price rising from 2024.3 USDT to 2047.18 USDT, an amplitude of 1.13%. Trading volume during this period significantly increased, with active addresses rising from 12,800 to 15,600, and large on-chain transfers up by 30.2%, reflecting a notable increase in market attention and volatility.
The main driver of this movement is the Ethereum "Verde" technical upgrade testnet news.
GateNews1h ago
BTC 15-minute increase of 0.95%: Technical breakthrough and large on-chain transfers dominate short-term rally
From 14:30 to 14:45 on March 10, 2026 (UTC), the price of BTC surged rapidly, with a 15-minute return of +0.95%. The candlestick quotes fluctuated between 69,792.0 and 70,485.0 USDT, with an amplitude of 0.99%. Market short-term activity increased, and the heightened volatility attracted widespread attention from users.
The main driver of this anomaly was BTC breaking through a key resistance level in the short term, activating technical traders and automated quantitative strategies to buy, creating a bullish momentum. At the same time, large on-chain BTC transfers and net inflows to exchanges...
GateNews1h ago
Geopolitical Turmoil! Dalio Declares "Gold is the Only True God," but Its Safe-Haven Performance Trails Bitcoin
As geopolitical tensions in the Middle East escalate, Bridgewater founder Ray Dalio questions Bitcoin and reaffirms gold as the preferred safe haven. Nevertheless, gold prices fell accordingly, while Bitcoin only experienced a slight correction, indicating that the correlation between the two is weakening. Dalio doubts Bitcoin's transparency and future risks, but he still maintains a small allocation of Bitcoin for diversification.
区块客2h ago
