What You Should Know

You are reading Crypto Daybook Americas, a morning briefing on overnight happenings in the crypto markets and expectations for the day.

Over $300 billion has vanished from the total cryptocurrency market, which now sits under $3.2 trillion. With Bitcoin hovering around $93,000, it has demonstrated a pattern of higher lows since December 30.

Recent reports have emerged suggesting that the U.S. government could liquidate a sizeable amount of Bitcoin seized from the Silk Road, exacerbating the situation as President-elect Donald Trump has pledged to refrain from selling these assets.

The cryptocurrency market is under strain due to high inflation fears, with a challenging macroeconomic environment indicated by soaring treasury yields and a strong DXY index, compounding the pressure on risk assets.

In the UK, mounting turmoil and record-high gilt yields are further destabilizing an already fragile economy, contributing to the decline of the British pound, hitting its lowest value against the dollar since November 2023.

The stock market is set to remain closed on January 9 for a national mourning as a tribute to former President Jimmy Carter. Economic indicators including a crucial jobs report are expected shortly, fueling anticipation across markets.

Stay informed of upcoming events and market movements to navigate these turbulent waters effectively.