Market closure December 6, 2024

US STOCKS MARKETS

Mixed session with indices up and down, but around Thursday's close. In this first week of December, prices have not moved much compared to the previous week's close.

In general, it has been a very good year for the US indices and it is already likely that, although the market may rise a little more, cash will start to be made and adjustments will be made by the large investment funds.

In December, everything is possible.

Falls for the 10-year US bond, as well as for oil.

Every day we are getting closer to next year, when Trump will enter the White House. There is a lot of expectation about his economic decisions. With only a month to go before his election, the markets may relax and behave erratically in December.

The EUR/USD remains in the 1.05 area, basically on support, with the aim of not losing 1.04 to avoid damaging the support attempt that has been consolidating for a couple of weeks.

EUROPE STOCKS MARKETS

For Europe, the week has been clearly positive. Today, Friday, of the main markets, only the Spanish and English selective markets have fallen, and we see strong increases, above one percentage point, in many of them.

Compared to the close of the previous week, the markets are definitely having a great week.

In these markets, it could even go up a bit more, but December is quite unusual in terms of its behaviour. In many years, the markets do not rise or fall at the beginning and only around Christmas Eve do they start to rise again, in the traditional Christmas rally.

CRYPTOCURRENCIES

BITCOIN (BTC)

Bitcoin has finally managed to break through the magic 100K, reaching 104K areas, and is now digesting its huge rise in 30 days. It is situated in the 100,000 USD areas, and if it wants to continue, it could try to approach 110/1120K USD.

The big movement two days ago, reaching 90K areas, we will see if it is enough support or if it needs to fall a little more, to 83/85K USD areas, to then continue rising.

At the moment, it has been three days with descending highs, awaiting today's close.

Relative strength is at 70 again. In general, there is some bullish pressure, but it does not mean that it needs to rest before continuing. We will continue to keep an eye on its situation, as there are more and more big hands wanting to enter the top 1 crypto.

(FGI BTC) Bitcoin Fear and Greed Index

The Bitcoin Fear and Greed Index is a tool that helps investors and traders analyze the Bitcoin and Crypto market from a sentiment perspective.

Currently we have the FGI is 75 points.

Two weeks ago, the fear and greed index was at 93 points, and even dropping to 75, it has managed to surpass 100K USD. We will see if with this drop to areas of less pressure, bitcoin manages to avoid losing the 90,000 USD and continues to rise.

AERODROME (AERO)

In the cryptocurrency ecosystem, Aerodrome or Aero refers to a specific token within a blockchain project related to decentralized finance (DeFi). Aerodrome is a DeFi protocol that focuses on offering products and solutions for asset management within the cryptocurrency space.

The Aero token can be used within this ecosystem for several functions, such as:

Governance: Aero holders can participate in decision-making within the protocol, such as voting on proposals and changes to the system rules.

Staking and Rewards: Users can stake their Aero tokens to obtain rewards in the form of more tokens or participations within the system.

Liquidity and Trading: The token can be used within decentralized platforms to offer liquidity and facilitate the exchange between different assets.

Aerodrome (and its Aero token) is an example of how tokens within DeFi platforms are designed to create more fluid ecosystems, where users can earn, trade, and actively participate in the governance of a protocol without relying on centralized intermediaries.

TA for AERO

When we observe how a crypto token approaches its previous ceiling, we have to observe what movement it seems to be making.

Others reach it and cannot overcome it and others do so, and with great force.

AERO seems to be within a bullish channel, where its ceiling has not yet been reached.

The relative strength seems still intact and it could try to continue rising.

Under observation.

Legal warning: This content is for informational and educational purposes. There is no consumer protection. Your capital is subject to risks. It is not a recommendation to buy or sell any asset or crypto asset. Please do your own research (DYOR) or contact your trusted financial advisor.

Jesús Sánchez-Bermejo

BELOBABA