Bitcoin Drops Below $91,000 as Rate Cut Hopes Fade
Published: Monday, 13 January 2025 09:56 | 
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Bitcoin experienced a significant decline on Monday, falling 4.4% to $90,199, marking its lowest point since November 18 and a sharp retreat from December's peak of $108,316. The selloff was triggered by stronger-than-expected US employment data that reduced expectations for near-term Federal Reserve rate cuts. The cryptocurrency market's weakness extends beyond Bitcoin, with Ether dropping 6.6%, reflecting broader concerns in the digital asset space. Technical analysts note a concerning head and shoulders pattern formation, suggesting a potential trend reversal from bullish to bearish territory. While Bitcoin's 2024 rally was fueled by the approval of US exchange-traded funds and President-elect Trump's supportive stance, market enthusiasm has cooled in early 2025 as investors await clarity following the upcoming inauguration.
Tech Stocks Lead Market Plunge as Rate Cut Hopes Fade
Published: Monday, 13 January 2025 09:52 | |
| US stocks tumbled Monday, with tech leading the decline as the Nasdaq fell 1.6% and the S&P 500 dropped 0.8%. Markets reacted to diminishing hopes for interest rate cuts after strong December jobs data, with traders now expecting no cuts until September 2025. The 10-year Treasury yield reached a 14-month high near 4.8%, while the dollar surged to a two-year peak against major currencies. Adding to market pressures, oil prices climbed to five-month highs following new US sanctions on Russian crude, while the "Magnificent Seven" tech giants, including Nvidia, Apple, and Tesla, all lost ground. Investors are now closely watching Wednesday's Consumer Price Index report for further clues about the Federal Reserve's potential policy moves.
Dollar Surge Weighs on Gold, Trump Trade Policy Fears Limit Losses
Published: Monday, 13 January 2025 09:48 | |
| Gold prices dropped 0.5% to $2,677.13 per ounce following strong U.S. jobs data that dampened expectations for early Fed rate cuts. While a strengthening dollar pressured gold prices, ongoing uncertainty around President-elect Trump's proposed trade policies and inflation concerns continued to provide underlying support for the precious metal.
This Gold Market Anomaly Could Spark a Major Rally
Published: Friday, 10 January 2025 04:52 | |
| Gold ETFs are missing from the current rally - but State Street predicts their return could trigger a surge to $3,100/oz in 2025.
Markets Slash Fed Rate Cut Bets After Strong Jobs Report
Published: Friday, 10 January 2025 09:47 | |
| Strong December employment data has dramatically shifted market expectations for Fed policy in 2024, with traders now anticipating just one rate cut in June, down from previous expectations of multiple cuts starting in May. The surprisingly robust job growth has led markets to significantly scale back their rate cut forecasts for the year.