MARKETS week ahead: December 9 – 16
Last week in the news
A positive sentiment still holds on financial markets, but a star of the previous week was BTC. The value of BTC managed to cross the 100K level for the first time in history of this coin. The US equity markets also traded in a positive sentiment for the third consecutive week, with the S & P 500 reaching a fresh new all time highest level at 6.090. The US Dollar weakened a bit during the week, while the price of gold was traded sideways. The US mixed November jobs data supported market expectations over another 25bps Fed's rate cut, in which sense, the 10Y Treasury yields were traded to the downside, ending the week at 4,17%.
The US Non-farm Payrolls and unemployment data were the main macro data posted for the week. The results were pretty mixed as defined by the majority of macro analysts. The US added 227K new jobs in November, which was modestly above the market expectation. At the same time, unemployment reached 4,2% in November, a bit higher from 4,1% posted previously. The analyst described figures as “not too hot and not too cold”. Still, it did not change the current sentiment regarding the expectation over a 25 bps Fed's rate cut. As per CME FedWatch Tool, currently there are 85% odds that the Fed will cut at their December meeting, scheduled for December 17-18th.
The news that pushed BTC to the levels above the 100K target was a nomination of Paul S. Atkins as a new leader of the US Securities and Exchange Commission. Atkins previously served in the SEC, under the Bush administration, and is known as a supporter of free-market principles. He is also known as a supporter of Chamber of Digital Commerce, which supports bringing up the clear regulation in the US regarding the crypto currencies.
In a recent interview with CNBC, a CEO of MicroStrategy, Michael Saylor, noted that the company wants to take Treasury function for BTC holders. As the company already is providing bonds, convertible bonds, notes, options, backed with crypto assets, they indeed might take a higher role in the further development of the BTC market in the US. At the same time, at his X account, Michael Saylor posted that the company bought another 15.400 BTC at the price of $95.976, bringing it to total holdings of 402.100BTC.
The European Central Bank issued a second progress report on the digital Euro preparation phase. The report notes an update of the single rulebook with comments from consumers and business and also calls for applications to select potential external providers of the service.
Crypto market cap
The previous week was a significant one for the crypto market. The long awaited 100K target for BTC has been reached. Actually the new all time highest level for BTC currently stands at $103.813. The news that hit the market and also the crypto market to the upside was the announcement of the nomination of Paul S. Atkins as the new SEC Chair under the Trump administration. Atkins is known in the business circles as a person who supports a clear regulation of the crypto market, in which sense, the crypto investors are expecting some positive developments under his presidency. Total crypto market capitalization was increased by additional $ 230B, or 7% on a weekly basis. Daily trading volumes were again increased to the level of around 405B on a daily basis, from 320B traded a week before. Total crypto market capitalization increase from the end of the previous year currently stands at 1.942B, which represents a 119% surge from the beginning of this year.
The majority of coins ended the week in green. Although BTC was certainly a star of the week, still, the altcoins were for one more time in the center of investors attention. Despite the new ATH, BTC ended the week by 2,8% higher from the week before, adding 55B to its market cap. ETH was another star of the week, as the coins managed to touch the $ 4K level, bringing its market cap higher by 7,3%, adding $ 33B to it. XRP continues to shine for the third week in a row. This week, XRP managed to add an additional 30% to its cap, increasing it by 33B. BNB had an excellent week, where its market cap increased by more than 14% or almost 14B. This week, Tron should be mentioned as the coin surged by 54% w/w, adding to its market cap $9,7B. Extraordinary week on the crypto market, where the majority of other altcoins managed to add somewhere between 15% and 30% in value.
Developments with circulating coins continue. This week Polygon should be especially mentioned, as it decreased the number of its coins in circulation by 12% w/w. On the opposite side were the majority of other altcoins. Tether had another good week, where the number of coins increased by additional 2,8%, increasing its market cap by this percentage. Filecoin had a surge of coins in circulation by 0,5%, while Maker had an increase of 0,4%.
Crypto futures market
Same as the spot market, the crypto futures market was quite happy with the nomination of Paul S. Atkins as a new SEC Chair. BTC short term futures were traded higher by 3%, while the longer term ones by more than 4%. Current structure of futures prices looks pretty positive, with December 2024 last traded at $101.580, and above the 100K target. December 2025 closed the week at the level of $111.715.
ETH futures had a stronger weekly push in the value of futures, which were traded by more than 12% higher from the week before. Futures maturing in December this year closed the week at the level of $4.068, the first time after many weeks, the price was closed above the $ 4K target. This level holds for other maturities, so December 2025 was last traded at $4.388.
A positive sentiment still holds on financial markets, but a star of the previous week was BTC. The value of BTC managed to cross the 100K level for the first time in history of this coin. The US equity markets also traded in a positive sentiment for the third consecutive week, with the S & P 500 reaching a fresh new all time highest level at 6.090. The US Dollar weakened a bit during the week, while the price of gold was traded sideways. The US mixed November jobs data supported market expectations over another 25bps Fed's rate cut, in which sense, the 10Y Treasury yields were traded to the downside, ending the week at 4,17%.
The US Non-farm Payrolls and unemployment data were the main macro data posted for the week. The results were pretty mixed as defined by the majority of macro analysts. The US added 227K new jobs in November, which was modestly above the market expectation. At the same time, unemployment reached 4,2% in November, a bit higher from 4,1% posted previously. The analyst described figures as “not too hot and not too cold”. Still, it did not change the current sentiment regarding the expectation over a 25 bps Fed's rate cut. As per CME FedWatch Tool, currently there are 85% odds that the Fed will cut at their December meeting, scheduled for December 17-18th.
The news that pushed BTC to the levels above the 100K target was a nomination of Paul S. Atkins as a new leader of the US Securities and Exchange Commission. Atkins previously served in the SEC, under the Bush administration, and is known as a supporter of free-market principles. He is also known as a supporter of Chamber of Digital Commerce, which supports bringing up the clear regulation in the US regarding the crypto currencies.
In a recent interview with CNBC, a CEO of MicroStrategy, Michael Saylor, noted that the company wants to take Treasury function for BTC holders. As the company already is providing bonds, convertible bonds, notes, options, backed with crypto assets, they indeed might take a higher role in the further development of the BTC market in the US. At the same time, at his X account, Michael Saylor posted that the company bought another 15.400 BTC at the price of $95.976, bringing it to total holdings of 402.100BTC.
The European Central Bank issued a second progress report on the digital Euro preparation phase. The report notes an update of the single rulebook with comments from consumers and business and also calls for applications to select potential external providers of the service.
Crypto market cap
The previous week was a significant one for the crypto market. The long awaited 100K target for BTC has been reached. Actually the new all time highest level for BTC currently stands at $103.813. The news that hit the market and also the crypto market to the upside was the announcement of the nomination of Paul S. Atkins as the new SEC Chair under the Trump administration. Atkins is known in the business circles as a person who supports a clear regulation of the crypto market, in which sense, the crypto investors are expecting some positive developments under his presidency. Total crypto market capitalization was increased by additional $ 230B, or 7% on a weekly basis. Daily trading volumes were again increased to the level of around 405B on a daily basis, from 320B traded a week before. Total crypto market capitalization increase from the end of the previous year currently stands at 1.942B, which represents a 119% surge from the beginning of this year.
The majority of coins ended the week in green. Although BTC was certainly a star of the week, still, the altcoins were for one more time in the center of investors attention. Despite the new ATH, BTC ended the week by 2,8% higher from the week before, adding 55B to its market cap. ETH was another star of the week, as the coins managed to touch the $ 4K level, bringing its market cap higher by 7,3%, adding $ 33B to it. XRP continues to shine for the third week in a row. This week, XRP managed to add an additional 30% to its cap, increasing it by 33B. BNB had an excellent week, where its market cap increased by more than 14% or almost 14B. This week, Tron should be mentioned as the coin surged by 54% w/w, adding to its market cap $9,7B. Extraordinary week on the crypto market, where the majority of other altcoins managed to add somewhere between 15% and 30% in value.
Developments with circulating coins continue. This week Polygon should be especially mentioned, as it decreased the number of its coins in circulation by 12% w/w. On the opposite side were the majority of other altcoins. Tether had another good week, where the number of coins increased by additional 2,8%, increasing its market cap by this percentage. Filecoin had a surge of coins in circulation by 0,5%, while Maker had an increase of 0,4%.
Crypto futures market
Same as the spot market, the crypto futures market was quite happy with the nomination of Paul S. Atkins as a new SEC Chair. BTC short term futures were traded higher by 3%, while the longer term ones by more than 4%. Current structure of futures prices looks pretty positive, with December 2024 last traded at $101.580, and above the 100K target. December 2025 closed the week at the level of $111.715.
ETH futures had a stronger weekly push in the value of futures, which were traded by more than 12% higher from the week before. Futures maturing in December this year closed the week at the level of $4.068, the first time after many weeks, the price was closed above the $ 4K target. This level holds for other maturities, so December 2025 was last traded at $4.388.
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