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This Week’s Market Recap… 📊

This was another historic week in the markets as Bitcoin hit $100K and all major indexes reached all-time highs. The markets have continued their post-election momentum, creating an "everything rally."

This week’s spotlight has been on Bitcoin reaching $100K. On Wednesday night, Bitcoin crossed the threshold for the first time. Over the past few weeks, there had been strong resistance around $99K, but we finally saw a breakout late Wednesday. The surge followed comments from Fed Chair Jerome Powell, who referred to Bitcoin as "digital gold," and the announcement that former SEC Commissioner Paul Atkins, a pro-crypto advocate, was appointed by President Trump to chair the SEC.

Jerome Powell spoke with Andrew Ross Sorkin at the DealBook Summit on Wednesday. During their discussion, Powell stated that the Fed would remain cautious about further rate cuts. He also noted that inflation appears to be slightly higher than initially expected.

Today, Friday, brings the event that everyone has been eagerly anticipating. Not just because it’s the start of the weekend, but because the Non-Farm Payrolls report gets released at 8:30 AM EST. This is one of the most significant economic data points, offering a clearer picture of the labor market's health.

Both investors and the Fed are closely analyzing this report, as it serves as one of the last major data points before the Fed’s December meeting. Over the past month, I’ve written that I don’t believe the Fed will cut rates. However, based on recent data and Fed commentary, there’s now a 70% chance of a rate cut. I still think there’s a possibility they hold off, but only time will tell.

Top ETFs on our Radar… 📈

T-Rex 2X Long Bitcoin Daily Target ETF ($BTCL) was a strong performing ETF this week as Bitcoin broke out passed $100k.

Bitcoin began to break out this week, and $BTCL was able to perform strongly due to its 2X leverage to Bitcoin. $BTCL is a great ETF to use when trading crypto with leverage.

Tune in every Monday and Friday for in-depth Market Analysis, Recaps, and a featured Stock & ETF.

Thanks for reading and have a great week!

-Ryan

@Theinvestingauthority