Donald Trump

Bitcoin

President Donald Trump

The U.S. stock markets are in shambles, while Bitcoin is flying past $108,000, rewriting the rules of the financial game. The S&amp;P 500 has now set a record for failure, dropping for 12 straight days—the longest losing streak in its entire history. 
The Dow Jones isn’t doing much better, limping into a nine-day losing streak after shedding another 0.61% on Tuesday. The Nasdaq Composite followed suit, slipping 0.32%. 
This chaos isn’t confined to Wall Street. Over in Europe, the Stoxx 600 index dropped 0.42%, dragged down by a 1.4% nosedive in banking stocks. Somehow, tech stocks managed to claw out a 0.61% gain, defying gravity in a market that seems allergic to good news. 
<h3 id="span-style-font-weight-400-wall-street-bleeds-as-the-fed-looms-large-span">Wall Street bleeds as the Fed looms large</h3> 
All eyes are on the Federal Reserve as its two-day meeting comes to an end. Traders expect the Fed to cut rates by 25 basis points, but it’s not a done deal. Inflation refuses to back off, and the labor market is still holding strong. 
A CNBC survey of 27 experts shows just how split opinions are—63% think a rate cut is the right move, while the rest aren’t so sure. Stocks tied to the tech world are taking hits that would make a heavyweight boxer jealous. 
<a href="https://www.cryptopolitan.com/nvidia-stocks-tank-on-fud-competition-spike/">Nvidia</a> fell another 1.2% on Tuesday, solidifying its position in correction territory, with its stock down more than 10% from recent highs. Broadcom was right there with it, dropping 3.9% as its recent rally lost steam. 
Meanwhile, the Dow is drowning, and UnitedHealth is holding the anchor. Over the last eight sessions, this one stock has accounted for more than half of the Dow’s total losses. That’s because the company’s CEO, Brian Thompson, was allegedly shot to death, sending the company into a tailspin. 
Outside of the Dow, the broader market is still showing some signs of life. The S&amp;P and Nasdaq are hovering near record closes, even though they also ended Tuesday in the red. 
<h3 id="span-style-font-weight-400-bitcoin-smashes-through-108k-span">Bitcoin smashes through $108k&nbsp;</h3> 
While Wall Street scrambles, <a href="https://www.cryptopolitan.com/gutting-satoshi-how-bitcoin-can-be-taxed-at-110-in-japan/">Bitcoin</a> is stealing the show. The largest crypto hit $108,315 on Tuesday before settling back to $106,400 so the bulls can cool down a bit. 
President Donald Trump has emerged as crypto’s newest hype man, backing Bitcoin-friendly policies and even floating the idea of a strategic national Bitcoin reserve. 
If that wasn’t enough, <a href="https://www.cryptopolitan.com/could-microstrategy-go-bankrupt-if-bitcoin/">MicroStrategy</a>—famous for pouring billions into Bitcoin—is about to join the Nasdaq 100 Index. Investors are piling in, betting that Bitcoin’s star is only beginning to rise. 
Since Trump’s election victory on November 5, Bitcoin has surged more than 55%. Its ETFs are seeing huge inflows as both institutional and retail investors jump in, shrugging off the usual concerns about volatility and the lack of traditional valuation metrics. 
On the Deribit options <a href="https://www.deribit.com/options/BTC" rel="nofollow noopener" target="_blank">exchange</a>, traders are stacking bullish bets at the $120,000 strike price. Open interest there—the number of outstanding contracts—shows strong confidence that Bitcoin’s momentum isn’t slowing down anytime soon. 
K33 Research analysts predict that after the Fed wraps up its meeting, quieter macroeconomic conditions could create a perfect storm for Bitcoin to keep climbing through the holiday season. 
Back in the traditional market, some are hoping for a Santa Rally—the usual uptick in stock prices during the last week of December. But with the Fed meeting’s outcome still uncertain, it’s unclear whether Santa’s bringing gifts or coal this year. For now, Bitcoin seems to be running the show. 
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US stock markets are crashing as Bitcoin breaks $108k

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