As the final Federal Reserve meeting of 2024 approaches, markets anticipate a 25-basis-point rate cut. Yet, robust economic signals and unstable inflation suggest alternative outcomes. Meanwhile, the crypto market is experiencing a significant uptrend.
The Final Fed Meeting of 2024
The Fed meeting on December 18 is a key event for investors, who await the interest rate decision. November retail sales are expected to rise by 0.5%, indicating a strong start to the holiday season. While most analysts anticipate a rate cut, economic data could influence this decision. The 'dot plot', illustrating future rate expectations, will be a vital element of the discussion.
Cryptocurrency Market Surge
Ahead of the Fed meeting, the cryptocurrency market shows positive dynamics. Bitcoin hit a record high of $106,000, raising its market cap to $2.1 trillion. Other tokens, like Ethereum, also saw gains, nearing the $4,000 mark, although Ether has lagged behind Bitcoin throughout 2024.
A Landmark Year in Crypto
2024 has been pivotal for the crypto industry, especially in bridging institutional and retail investors. This year, the U.S. launched 11 Bitcoin spot ETFs, accumulating over $100 billion in assets under management. Ethereum followed with nine ETFs and over $10 billion in assets. Investors are pondering whether a Santa Rally might bring one more record before the year closes.
The final Fed meeting of 2024 promises to be decisive for both the stock market and the crypto industry. A robust economy and exciting achievements in the crypto market fuel interest in the year's potential outcomes.
