Bitcoin’s break above the $100,000 milestone is a significant development in modern financial markets. The cryptocurrency’s price surge has been driven by large investors and flows into new bitcoin ETFs, rather than a sales pitch from family members. This milestone marks the latest chapter in crypto’s growing role in global markets.
Meanwhile, European and US stocks reached record highs on Wednesday as confidence grew about U.S. rate cuts. In contrast, France is grappling with a crisis, with its parliament passing a no-confidence motion for the first time since 1962. The situation has sparked unease among investors, who are drawn to cryptocurrency investments as a hedge against traditional asset class risks.
This week’s data releases include the US jobs report on Friday, which could challenge market expectations for interest rate cuts. European retail sales and German industrial orders will also be closely watched.
Source: https://www.reuters.com/markets/europe/global-markets-view-europe-2024-12-05