Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 90,310.0 | -1.86% |
| Ethereum (ETH) | 3,201.00 | -3.73% |
| Bitcoin Spot ETF | +223.50M | Net Inflow |
| Ethereum Spot ETF | +57.60M | Net Inflow |
| Nasdaq (NAS100) | 25,504.6 | -1.04% |
| S&P 500 (SPX) | 6,886.69 | +0.68% |
| Russell 2000 (RUT) | 2,557.1 | -0.44% |
| U.S. Dollar Index (DXY) | 98.306 | +0.04% |
| VIX Volatility Index | 15.77 | -6.85% |
| U.S. 10-Year Yield | 4.14197 | -0.98% |
| Brent Crude Oil (BRENT) | 62.188 | -1.12% |
| LBMA Gold (XAU) | 4,214.93 | -0.31% |
| LBMA Silver (XAG) | 61.836 | +0.33% |
“Prepared at UTC 07.57 am”
Today’s Key Events
- President Trump Signing Ceremony and Congressional Address
- US Jobless Claims
- Broadcom Earnings Report
- Solana Breakpoint 2025 UAE, Abu Dhabi
Fed Cuts Interest Rates by 25 Basis Points
At its December meeting, the Fed cut interest rates by 25 basis points, bringing the target range to 3.50–3.75%. The decision was not unanimous, with three members voting differently, highlighting the divergence in policy. While some members wanted a larger cut, two members favored keeping rates unchanged. This indicates that the Fed will be more cautious and data-dependent in its future steps. It also signaled that the rapid easing process expected by the markets may not happen in the near term.
Powell: “We Are in a Wait-and-See Period in Terms of the Economy”
Powell took a more dovish stance at the press conference, contrary to the hawkish tone. He said that the Fed was in a good position to monitor economic developments and that the bar for further rate cuts had been raised. He stated that downside risks in the labor market had increased and that employment data could be overstated. He said that tariffs had only a temporary effect on inflation and that goods inflation could peak in the first quarter of next year. He also emphasized that artificial intelligence was supporting growth and contributing positively to the economic outlook.
Fed’s Economic Projections and Dot Plot Distribution Increased Uncertainty
The dot plot revealed a significant divergence in views on the 2026 interest rate path. According to the projections, some members anticipate interest rate hikes or no change, while others expect one or more cuts. In economic forecasts, the growth outlook was revised upward and inflation expectations downward, painting a picture close to the “ideal scenario.” GDP forecasts were slightly revised upward for 2025 and 2026, while core PCE expectations were lowered by 0.1 percentage points for both years. Unchanged unemployment forecasts indicate a balanced overall outlook despite risks on the employment front.
Lagarde: ECB May Revise Growth Forecasts Upward in December
ECB President Christine Lagarde stated that growth forecasts may be revised upward again in December due to stronger-than-expected economic resilience. Lagarde recalled that similar upward revisions were made in the latest projection updates. She also signaled that there is no need for interest rate changes in the near term, saying that monetary policy is currently “in a good position.” These statements were interpreted by the markets as a cautious stance and a continuation of the fixed interest rate policy. The resilience of the European economy is expanding the ECB’s room for maneuver despite uncertainties.
Chinese Inflation Data Presented a Mixed Picture
In China, the CPI rose by 0.7% year-on-year in November, accelerating compared to the previous period, while showing a slight decline on a monthly basis. The core CPI remained steady at 1.2% year-on-year, turning to a small negative reading on a monthly basis. The PPI fell by 2.2% year-on-year, revealing continued deflationary pressures. The positive monthly PPI pointed to a limited recovery on the production side. The overall outlook suggests that consumption remains weak, but a partial bottoming out of production costs has begun.
Satoshi Statue Installed at NYSE
The installation of a statue of Satoshi Nakamoto at the entrance to the New York Stock Exchange signals a historic shift in Wall Street’s attitude toward crypto. Designed by artist Valentina Picozzi, the statue is seen as a symbol of the exchange’s vision of a “common ground between emerging systems and established institutions.” The statue was installed with the contribution of Twenty One Capital and timed to coincide with the anniversary of the Bitcoin mailing list on December 10, 2008. This step shows that traditional finance and the crypto ecosystem are becoming increasingly integrated.
Reuters Poll: Expectations for a 25 Basis Point Increase from the BOJ Strengthen
According to a Reuters survey, the vast majority of economists predict that the Bank of Japan will raise interest rates to 0.75% at its December meeting. While the expectation rate has risen significantly compared to the previous survey, more than two-thirds of economists predict that interest rates will reach at least 1% by September next year. Inflation risks and a weak yen are among the main factors driving expectations of a rate hike. Experts are almost certain that the BOJ will tighten policy for the first time since January.
US Representative: CBDC Threatens Financial Privacy
US Republican Representative Keith Self argues that CBDC will give the government the power to monitor and control all individuals’ financial transactions. Self stated that this constitutes a serious interference with Americans’ financial privacy and that he therefore voted against the Defense Authorization Act for this reason. In his view, CBDC is a tool with the potential to restrict freedoms, and efforts must be made to prevent its legalization. The official states that financial freedom is not negotiable.
Avalanche Foundation Establishes DLT Foundation in ADGM
The Avalanche Foundation has established a new DLT-focused foundation in the Abu Dhabi Global Market to accelerate ecosystem development in the Middle East. This step aims to expand partnerships in the region and strengthen project development processes with an institutional structure. The foundation will contribute to making the Avalanche ecosystem more visible and effective in Abu Dhabi. The region is becoming an increasingly strategic hub for blockchain projects.
Ondo Finance: Liquidity for Stock Tokens Comes from Markets
Ondo Finance announced that liquidity for tokenized stocks is provided by real markets such as Nasdaq and NYSE. Under this model, tokens are fully backed by real shares held in custody, and since AMM pools are not used, the risk of slippage in large transaction volumes is virtually eliminated. The system operates similarly to the stablecoin reserve logic and offers a more secure structure for institutional investors. Ondo emphasizes that tokenization is progressing with a transparent structure parallel to traditional markets.
Ethereum: BPO-1 Activated and Blob Capacity Increased
The Ethereum Foundation announced that BPO-1 has been activated and the blob capacity per block has been increased to 15. This improvement aims to increase Layer 2 efficiency without requiring a hard fork. The Foundation stated that capacity will increase further with BPO-2, which will be implemented in January. This step will provide significant gains in terms of cost and performance, especially in L2 solutions.
Tether Introduces QVAC Health, an Artificial Intelligence-Powered Health Application
Tether has entered the health and fitness arena with its new venture, QVAC Health, which extends beyond the crypto sector. The application prioritizes privacy by storing user data locally on their devices in an encrypted manner. Information such as step count, sleep, and fitness data is not sent to any commercial servers and is not collected for advertising purposes. Tether continues its strategy of expanding its AI-based ecosystem into non-financial areas.
Galaxy Opens New Office and Business Unit in Abu Dhabi
Galaxy announced that it will establish a new office and business unit in the Abu Dhabi Global Market as part of its growth plans in the Middle East market. The company stated that the region’s rapidly developing position as a financial center offers great opportunities for digital assets. CEO Mike Novogratz said this strategic expansion will further strengthen existing partnerships and activities. Galaxy aims to increase regional compliance by operating under ADGM regulator.
Bhutan Introduces Solana-Based Gold-Backed TER Token
The Kingdom of Bhutan has launched a gold-backed, state-approved TER token through Glipp Mindful City. The token operates on the Solana blockchain, offering investors a transparent, digital representation of physical gold. Managed by DK Bank, investors can access TER directly through banking channels. This move represents a significant example of the convergence of traditional store-of-value assets with blockchain.
