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- Bitcoin's sudden drop triggers $303M in liquidations
Bitcoin's sudden drop triggers $303M in liquidations
5 articles I'm watching carefully
Tyler Dupont ![]() Good morning 👋 Here's the latest news I'm tracking today. |
📈 Stocks / Finance
S&P 500 Bull Market Surpasses Analyst Expectations
Wall Street analysts are revising S&P 500 targets upwards as the index gains 27% this year, surpassing earlier predictions. Wells Fargo sets a 2025 target at 7,007 points. Earnings are expected to grow, supported by a dovish Fed and a business-friendly White House, despite concerns about tariffs.
OPEC+ Delays Oil Output Increase, Market Reaction Muted
OPEC+ postponed its production increase plan by three months, opting for a gradual rise starting in April. Brent crude steadied near $72, with analysts predicting a smaller surplus next year due to reduced OPEC+ additions and weak global demand, particularly from China.
Homebuyer Demand Surges Despite High Rates
Redfin's Homebuyer Demand Index rose 7% year-over-year, reaching its highest since September 2023. Mortgage-purchase applications surged 17% month-over-month, while pending sales grew 6.5%. Elevated mortgage rates, now at 6.81%, haven't deterred buyers, driven by pent-up demand post-election.
🪙 Crypto
Bitcoin's sudden drop triggers $303M in liquidations
Bitcoin's price fell by 5.47% on Dec. 5, briefly dropping below $93,000 and triggering $303 million in long position liquidations. The plunge erased much of the leverage, with analysts suggesting either a bottom or potential further decline due to market fear.
🌎 Global Economy
Global Economic Growth Slows in Europe
S&P Global's PMI survey for November showed modest global growth at an annualized 2.7%. The US outpaced Europe, with a surge in services activity driving expansion. Conversely, eurozone GDP risked contraction, and employment growth stalled globally due to economic uncertainties.
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