Cryptocurrencies maintain their correlation with the Nasdaq and continue with a positive trend. Analysts are already pointing to new support and keeping expectations high for 2025.
The cryptocurrency market rises again this Thursday December 12with Bitcoin which climbs more than 2.4% in the last 24 hours and remains above US$100,700. Meanwhile, Ethereum advances 5.2% and is close to US$3,900. The rest of the altcoins operate with widespread gains of up to 25%, led by SUI, Chainlink (21%) and Uniswap (17.1%).
AI-related tokens also stand out
Assets linked to artificial intelligence (AI) showed outstanding performance. Tokens like NEAR Protocol (NEAR), Internet Computer (ICP) and Render (RENDER) registered increases of more than 10% after an exclusive published by The Informationwhich reveals that Apple is collaborating with Broadcom on the development of an artificial intelligence chip.
Main factors behind the rally in cryptocurrencies
The main driver of these increases was the latest report of the Consumer Price Index (CPI) in the United States. In November, the year-on-year CPI stood at 2.7%in front of the 2.6% October, while core inflation, which excludes food and energy, remained at 3.3%meeting market forecasts.
The publication of these data reinforced expectations that the Federal Reserve (Fed) could implement a new cut 25 basis points on interest rates during its next meeting. Michael Brown, senior strategist at Pepperstone, said: “Although disinflationary progress has stalled, these numbers are unlikely to significantly alter the FOMC’s plans in the near term.” However, he warned that the labor market will be key in future monetary policy decisions.
Other analysts, such as Srijan Katyalglobal director of strategy at ADSS, are more cautious and consider a new immediate easing of monetary conditions unlikely. According to Katyal, “the Fed will probably wait for more data on employment and inflation before deciding on another cut, allowing the recent measures to take effect.” Although more jobs were created than expected, the unemployment rate rose to 4.2%a fact that could influence future decisions.
Bitcoin
Correlation with technologies and future perspectives
Bitcoin continues to show a close correlation with tech stocks, as reflected by its recent advance, which coincides with the index’s jump Nasdaq above the 20,000 points. Likewise, stocks related to artificial intelligence, such as Nvidia, also recovered ground after a recent slowdown that had impacted the crypto market.
Looking ahead, analysts maintain a bullish approach to cryptocurrencies. Bitwise, a crypto exchange-traded fund issuer, predicted that Bitcoin could reach US$200,000 in the next 12 months. In addition, prominent companies in the sector, such as Kraken and Circleplan to go public in 2025, which could further consolidate the crypto market’s position in the global economy.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
