On December 23, institutions' expectations for the US stock and cryptocurrency markets
On December 23, the three major US stock indices continued their upward trend, with the Dow Jones index closing up 0.47% at 48362.68 points, the S&P 500 index rising 0.64% to 6878.49 points, and the Nasdaq index slightly increasing by 0.52% to 23428.83 points. The AI sector led the gains, supported by the Christmas market effect, while the VIX fear index fell to a low of 14.08.
#比特币 fluctuated synchronously, currently reported around $88,200 (24-hour drop of 0.7%), oscillating in the range of $87,500 to $90,500, with Ethereum consolidating around $3,020. The core contradiction remains the liquidity diversion caused by gold attracting capital, as well as the uncertainty of the Federal Reserve's policies suppressing high-risk assets.
Institutional and corporate dynamics are key variables: BlackRock has included Bitcoin ETF (IBIT) in its top three investment themes for the year, with its CEO describing Bitcoin as a "fear asset." IBIT has seen a cumulative net inflow of over $50 billion, with Grayscale and Fidelity together accounting for 85% of the US Bitcoin ETF market share. In the case of publicly listed companies, Strategy (formerly MicroStrategy) reported in its Q4 earnings that it holds 447,000 BTC, with a yield target exceeding 15% by 2025; MARA's Q4 mining revenue increased by 37% year-on-year, with a Bitcoin holding of 44,900 BTC. These signals indicate a deepening recognition of cryptocurrency assets by traditional finance and publicly listed companies, with short-term market fluctuations indicating a bottoming process, while mid-term institutional capital and compliance progress will dominate the upside potential.
Therefore, the recognition and deep binding of major institutions to cryptocurrency assets will depend on the market's upside potential after capital enters.
