Pepe (PEPE) Receives Strong Backing from Major Retail Investors
Bitcoin has broken its all-time high, signaling a return to price discovery mode. This surge has sparked predictions that BTC could hit $130,000. Meanwhile, Binance is facing allegations of intellectual property theft over the PNUT token by its owner, Peanut the Squirrel.
In other news, Shiba Inu (SHIB) supporters are abuzz, but questions remain about its ability to compete with Lightchain AI’s real-world applications.
The New Zealand Dollar/US Dollar pair is at a critical juncture near 0.5770, while the USD/JPY pair has surged past 154.00 despite positive Japanese data. The Australian Dollar/US Dollar pair faces pressure near 0.6380 ahead of the flash US PMI data and focus on Fed policy.
Chinese aluminum production has reached record levels, while gold prices have increased as the US Dollar and Treasury yields ease. On the other hand, China’s oil demand has declined.
In the stock market, investors are curious about Accenture’s performance and are eyeing one growth stock for potential investment. There’s also a debate over which stock is a better option in the artificial intelligence sector: Palantir or Adobe.
The US Dollar is experiencing a mixed performance but maintains a firm undertone. Analysts predict that US net debt will continue to grow rapidly, while the DXY remains mixed ahead of the Fed rate meeting.
In the cryptocurrency world, Dogecoin has seen losses despite Bitcoin’s rally to a new high. The USD/CNH pair is consolidating within a recent range, and there are upcoming FX option expiries.
Economic reports show that China’s growth normalized in November, with the US S&P Global Manufacturing PMI declining in December while the Services PMI improved. The UK Preliminary Services PMI rose above expectations in December.
Arbitrum leads this week’s token unlocks with $843 million, and a Trump-led crypto venture has invested $250,000 in ONDO tokens. Crude oil prices have corrected after disappointing Chinese data affecting demand recovery.
Looking ahead, the Fed’s actions will lead a week filled with central bank news. Economists predict that China’s 2025 stimulus policies aim to ease economic slowdown. Additionally, the SEC is preparing further charges against Elon Musk and investigating Neuralink.
Overall, the market remains dynamic with mixed performances, key milestones, and ongoing developments, making it an exciting time for investors and observers alike.
