On January 24, according to 4E monitoring, the US stock market continued its upward trend this week, with the three major indices rising across the board: the Dow Jones Industrial Average rose 0.92%, the S&P 500 Index rose 0.53% to a new all-time high, and the Nasdaq Composite Index rose 0.22%. The performance of large-cap tech stocks was mixed, with Nvidia rising slightly by 0.1%, while Tesla fell 0.66%.
The cryptocurrency market continued to fluctuate, with Bitcoin experiencing volatility at the US stock market open. Market rumors suggested that the US might announce a Bitcoin strategic reserve, and BTC briefly surged to near $107,000, but the news was later confirmed that the main advocate of the Bitcoin reserve had been appointed as the chairman of the digital asset group, and the price began to fall, briefly dropping below $103,000. The Altcoin market mostly declined, with the AI sector leading the decline for two consecutive days.
In the foreign exchange and commodity markets, Trump on Thursday at the Davos forum demanded that the Federal Reserve and the global community "immediately" cut interest rates, asked the Saudi Crown Prince for $1 trillion in investment, and demanded that OPEC lower oil prices. The US dollar briefly rose but then fell slightly, and oil prices fell by about 1% in response. Gold prices retreated from a three-month high after rising for several consecutive days, with spot gold falling by more than 0.7% at the lowest point.
On Thursday, Trump signed an executive order to establish a cryptocurrency working group, responsible for proposing new digital asset regulatory policies and exploring the possibility of establishing a national cryptocurrency reserve. The working group will submit a relevant recommendation report to Trump within 180 days. In addition, on Thursday, the SEC revoked the cryptocurrency accounting policy SAB 121, allowing US banks to custody BTC. A series of policies are being implemented, fulfilling Trump's commitment to quickly reform US cryptocurrency policy, boosting market confidence.
4E is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange, and other assets. Recently, it has launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.