Crypto "Tailwind Strengthens" as Mainstream Institutions Signal Positivity Amid Loose Liquidity Conditions

BlockBeats News, December 3rd: The crypto market saw a long-awaited strong rebound last night and this morning. As of the time of writing, mainstream currencies like Bitcoin and Ethereum have recovered from the "12/01" crash. Bitcoin briefly returned to $92,000, and Ethereum returned to $3,000.

On the news front, last night brought a wave of crypto positivity:

The world's second-largest asset management company, Vanguard, will allow investors to trade Belvedere's Bitcoin spot ETF. This is the first time this conservative investment giant has opened up a crypto investment channel to its 8 million self-directed brokerage clients. In addition, Bank of America advised interested investors to allocate 1%-4% to digital assets.

Trump strongly hinted at Hassett taking over as Fed chair at a press conference, once again criticizing Powell's interest rate policy. As a result, the market is heavily betting that crypto-friendly Hassett will take over as Fed chair.

The Fed formally confirmed the end of quantitative tightening yesterday. Although some believe that the effects may not be seen until early next year, the expectations of loose liquidity have gradually materialized.

US stocks closed with the Nasdaq up 0.59% and the Dow up 0.39%. Bitcoin and tech stocks rebounded together.

In Japan, stability was seen in the JGB auction, alleviating market fears of a Japanese rate hike.