With the end of the Christmas holiday, the US stock market reopened, but trading activity was relatively light, mainly due to the release of the initial jobless claims data, which brought both positive signals and certain uncertainties, and therefore failed to change investors' expectations of the future policy direction of the Federal Reserve. Against this backdrop, among the three major US stock indexes, only the Dow Jones Industrial Average achieved an increase, while the S&P 500 and Nasdaq Composite Index experienced a slight decline.
Cryptocurrency-related stocks generally fell. However, it is worth noting that KULR Technology Group, a battery and electronic equipment energy management company, announced a remarkable decision to spend $21 million to buy Bitcoin and plans to allocate most of its cash (90%) to Bitcoin. This news quickly attracted widespread attention in the market and pushed KULR's stock price up by more than 40%.
At the same time, the cryptocurrency market as a whole also showed a downward trend. MicroStrategy even announced a plan to split and issue more shares to raise funds to buy Bitcoin. This news once pushed the price of Bitcoin close to the $100,000 mark yesterday, but then it fell back. Currently, the price of Bitcoin remains in a narrow range above $96,000. Affected by the decline of Bitcoin, other altcoins also fell. However, in terms of capital flows, the net inflow of funds into the Bitcoin spot ETF reached $419 million on Thursday, successfully reversing the unfavorable situation of net outflows for four consecutive days.
Currently, the global financial market is in the annual period of light trading, and many investors choose to adjust their positions and strategies during this period. Therefore, the market is more driven by retail investors. It is worth noting that the cryptocurrency market will usher in the largest open interest expiration date in history today, which may further increase market volatility.
In this case, investors need to pay attention to the risk of market volatility and rationally allocate assets according to their own risk tolerance and investment objectives.
