Key Insights:

You are reading Crypto Daybook Americas, your morning briefing on recent shifts in the crypto markets overnight and projections for the day ahead. This briefing will soon replace the First Mover Americas newsletter.

Market Overview:

Bitcoin and Ethereum's bullish trend has faced obstacles as the U.S. Producer Price Index (PPI) exceeded expectations, prompting a tightening from investors towards the dollar. Meanwhile, the Truflation index has risen above 3% for the first time in over two years, causing concerns among analysts.

Market Sentiment:

Despite this, Fed fund futures reflect confidence that the central bank will decrease rates by 25 basis points in the coming week. Traders on decentralized exchanges remain optimistic, as shown by the notable $64.8 million open interest for active BTC call options on Derive.

Notable Developments:

In wider market updates, AVAX struggled against selling pressure near $55, hinting at a potential double-top pattern. This trend follows a significant $250 million fundraising led by Galaxy Digital and others.

A survey from Coin68 revealed that a majority of respondents reported profits from their investments last year, with 93.5% expecting an increase in altcoin activity in 2025.

Upcoming Events to Watch:

• Dec 13: Nasdaq will announce annual changes to its Nasdaq-100 index, with MicroStrategy expected to be added.
• Dec 18: CleanSpark will release Q4 FY 2024 earnings.

Technical Insights:

LQTY has seen substantial gains recently, with its price stabilizing around $2.45. Meanwhile, governance proposals continue to unfold within the community regarding fund utilization and yield generation strategies.

In summation, while there are factors that may hinder bullish momentum, keeping abreast of market movement and economic data releases will be essential for investors.