Market Performance - Bitcoin experienced its fifth best daily return of the year, gaining 5.7% [1] - On December 3, Bitcoin briefly surpassed $93,000 but quickly retraced, indicating a potential 'fake breakout' [2] - Bitcoin's trading volume increased by 16%, totaling $128 billion [3] Investment Flows - There was a significant increase in funds flowing into Bitcoin ETFs, with $58.5 million on Tuesday compared to $8.5 million on Monday [4] - BlackRock's iShares Bitcoin Trust attracted $120 million in new capital, while ARK 21Shares Bitcoin ETF faced a net loss of $90.9 million [4] Macroeconomic Factors - Analysts noted that traders are preparing for potential catalysts, with an 89% probability assigned to a third rate cut by the Federal Reserve [5] - The Federal Reserve is currently lacking fresh inflation or employment data, which may impact upcoming decisions [6] - Betting markets suggest an 85% probability that Kevin Hassett will become the next Fed Chair, raising questions about future monetary policy [7]
Was the Bitcoin Jump a 'Fake Breakout'?
Yahoo Finance·2025-12-03 19:23