Summary

As the end of the year approaches, the crypto market is experiencing an upbeat holiday spirit, highlighted by Bitcoin reaching just below $108,000 and stabilizing around $107,000.

Market Highlights

Bitcoin enthusiasts are particularly optimistic after the U.S. elections in November, sensing a shift in institutional support, especially with the pro-crypto stance of President-elect Donald Trump. His administration may hint at the establishment of a national Bitcoin reserve, which could positively impact market sentiment.

Meanwhile, the crypto landscape is welcoming new tokens such as PENGU, from the Pudgy Penguin ecosystem, aimed at increasing user engagement. Luca Netz, CEO of Pudgy Penguins, indicated that the token’s launch could foster greater interaction within the community.

Additionally, Avalanche has successfully released its largest network upgrade, termed Avalanche9000, which is expected to simplify and lessen the costs for launching new subnets, potentially leading to a surge in new developments on the platform.

Upcoming Events

• Dec. 18, 9:30 a.m.: Exodus Movement (EXOD) begins trading on NYSE American.

Bitcoin's Position

The recent momentum in Bitcoin is tempered by an upcoming interest rate decision from the Federal Reserve, which could introduce volatility as the holiday season unfolds.

Conclusion

As holiday cheer spreads in the crypto market, with new developments, the market prepares for a dynamic close to the trading year. Subscribers to the Crypto Daybook Americas will receive updates at 7 a.m. ET every morning to stay informed.