The stock market reacted positively to forecasts of a Federal Reserve interest rate cut in 2024. In the middle of the week, the S&P 500 business activity indicator reached its highest level since January 2022, and gold prices are approaching historical highs.

However, Bitcoin (BTC) and ether (ETH) remain in a narrow range. BTC failed to rise closer to the $45,000 mark, and ETH, after a short rise to $2,550, fell to $2,340.

Bitcoin volatility has dropped to its lowest level since the end of November, and according to the Coinglass platform, as of December 29, this figure was 2.22% for the month.

The Nasdaq index showed the highest growth in the last 12 months since 1999, according to Bloomberg. According to the forecasts of strategists, the S&P 500 index may also reach 4,833 points.

Matt Mailey of Miller Tabak + Co. believes that stock markets will rise in the coming months, provided that forecasts of a gradual easing of the Federal Reserve's policy are confirmed.

The correlation between bitcoin and tech stocks has decreased over the past month. However, it may increase if ETFs investing in digital currencies appear on the American stock market in January.