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Bitcoin appears to have found a comfortable spot above the $93K mark as the holiday season nears. Meanwhile, MicroStrategy’s stock took a 35% hit after its recent $5.4 million BTC purchase at $97,862 per BTC went underwater. Despite this, MSTR found support at its 20-day EMA, holding session lows and signaling potential support above $350.

After BTC’s dip, ETH is staging a comeback, gaining over 4% yesterday while BTC dropped 1.5% at the same time. The market is shifting flows to ETH, as evidenced by a 13% surge in the ETH/BTC pair to 0.0366 from its post-election low of 0.0318. ETH even outperformed the broader CoinDesk 20 Index, which rose just 0.5%.

Wall Street achieved record highs after President-elect Trump nominated Scott Bessent as Treasury Secretary, lifting market sentiment. The Dow surged 439 points (+0.99%) to 44,860, while the S&P 500 broke the 6,000-point mark, and the Nasdaq Composite index gained 0.75%.

Bessent outlined his “3 Arrows” strategy for the U.S. economy, targeting a 3% budget deficit by 2028, 3% GDP growth, and an increase of 3 million barrels in daily oil production. Bessent’s market-friendly approach and potential willingness to moderate Trump’s tariff policies fueled optimism, driving a broad rally across markets, with risky assets leading the charge.

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