Major cryptocurrencies experienced a surge on Thursday evening, driven by two significant developments, one involving Bitcoin and the other Ethereum.
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin (CRYPTO: BTC) | +0.63% | $37,947 |
| Ethereum (CRYPTO: ETH) | +3.15% | $2,089 |
| Dogecoin (CRYPTO: DOGE) | +0.32% | $0.081 |
What Happened: On the Bitcoin front, Michael Saylor owned Microstrategy Inc (NASDAQ:MSTR), the largest corporate holder of BTC purchased an additional 16,130 BTC, valued at approximately $608 million based on current prices.
According to a regulatory filing on Thursday, Microstrategy acquired bitcoin for $593.3 million in cash, at an average price of around $36,785 per coin. With this purchase, the company now holds a total of 174,530 BTC, acquired at an average price of about $30,252 per coin.
On the Ethereum front, the Securities and Exchange Commission (SEC) has officially acknowledged Fidelity Investments’ filing for a spot Ethereum exchange-traded fund (ETF). Fidelity had initially submitted their SEC application on November 17.
Top Gainer (24 Hour)
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EDT) |
| Celestia | +11.96. | $6.16 |
| Injective | +8.81% | $18.25 |
| Render | +8.18% | $3.19 |
The global crypto market cap has reached $1.42 trillion, marking a 0.40% decrease in the last 24 hours.
The S&P 500 rose by 0.4% to reach 4,567.80, indicating a positive performance. However, the Nasdaq Composite experienced a slight dip of about 0.2% and stood at 14,226.22.
Data released on Thursday revealed that the personal consumption expenditures price index, considered the Federal Reserve’s preferred measure of inflation, showed a 3.5% increase on a year-over-year basis. This indicates a slowdown compared to the previous month’s 3.7% annual gain.
Moreover, the 10-year Treasury yield, which had caused concern among investors when it exceeded 5% last month, has seen a decline this month due to the release of cooling inflation data. On Thursday, the 10-year yield ticked slightly higher, reaching 4.34%.
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Analyst Notes: Eli Taranto, Executive Director at EQI Bank in a note seen by Benzinga said, “As inflation data coming out of the US shows signs of cooling, BTC remains within the $37K corridor. Interestingly, as more and more industry giants look to…
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