On November 8, 2024, the cryptocurrency market is witnessing notable activity, bolstered by recent developments in the U.S. stock indexes. The Nasdaq and S&P 500 both achieved record closing highs, driven by gains in major tech stocks, following the Federal Reserve’s decision to cut interest rates by 25 basis points. This reduction aligns with market expectations and may pave the way for additional cuts in November and December, contingent on economic data.
Bitcoin (BTC) is currently consolidating around $75,000, with a recent surge pushing it to an all-time high of $76,484. The overall technical structure indicates a sustained upward trend, suggesting strong bullish momentum. Ethereum (ETH) experienced a rise to $2,914 before a slight pullback, with market conditions indicating potential for further growth. Traders are advised to consider buying on dips, as the prevailing market sentiment remains optimistic following the Fed's interest rate adjustments.
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#HalloweenCountdown: Final chance to enjoy $60,000
On November 8, 2024, the cryptocurrency market is witnessing notable activity, bolstered by recent developments in the U.S. stock indexes. The Nasdaq and S&P 500 both achieved record closing highs, driven by gains in major tech stocks, following the Federal Reserve’s decision to cut interest rates by 25 basis points. This reduction aligns with market expectations and may pave the way for additional cuts in November and December, contingent on economic data.
Bitcoin (BTC) is currently consolidating around $75,000, with a recent surge pushing it to an all-time high of $76,484. The overall technical structure indicates a sustained upward trend, suggesting strong bullish momentum. Ethereum (ETH) experienced a rise to $2,914 before a slight pullback, with market conditions indicating potential for further growth. Traders are advised to consider buying on dips, as the prevailing market sentiment remains optimistic following the Fed's interest rate adjustments.