BlockBeats News, December 3rd. The crypto market saw a long-awaited strong rebound last night and this morning. As of the time of writing, major currencies such as Bitcoin and Ethereum have regained the ground lost during the “12/01” plunge. Bitcoin briefly returned to $92,000, and Ethereum returned to $3,000.
In terms of news:
Positive news for crypto was abundant last night:
Vanguard, the world’s second-largest asset management company, will allow investors to trade the Bitcoin spot ETF under BlackRock’s management. This is the first time this conservative investment-focused asset management giant has opened up a crypto investment channel to its 8 million self-directed brokerage clients. In addition, Bank of America recommended that interested investors allocate 1%-4% to digital assets.
During a press conference, Trump strongly hinted that Hassett would take over as the Fed Chair, once again criticizing Powell for not lowering interest rates. As a result, the market is highly betting that Hassett, who is crypto-friendly, will take over as the Fed Chair.
Yesterday, the Fed officially confirmed the end of quantitative tightening, although some believe that the effects may not be seen until early next year, the expectation of loose liquidity has already started to materialize.
US stocks closed with the Nasdaq up 0.59% and the Dow up 0.39%. Bitcoin and tech stocks rebounded hand in hand.
In Japan, the Japanese bond auction stabilized, easing the market’s fears of a Japanese interest rate hike.
