US stocks closed in the black on the eve of Thanksgiving! Ether, however, saw a big pump of 10%, is it Cryptocurrency's turn to perform?

The three major US stock indexes closed down before the Thanksgiving holiday. The PCE data released yesterday showed a slight rise in inflation, but the economy remains stable. Investors expect the Federal Reserve to maintain a gradual rate cut pattern. Ethercoinbig pump rose more than 10%, BTC rose more than 4%, and the top ten Market Cap Cryptocurrencies performed well yesterday.

Source: Chain News

The US economy remains robust, with a slight rise in inflation

Revised data shows that US Q3 GDP grew by 2.8%, the same as the initial value, indicating that the economy maintained robust growth momentum in the early Q4.

Although durable goods orders in October increased less than expected, the number of initial claims for unemployment benefits was 213,000, slightly lower than the upwardly revised 215,000 last week, indicating a stable labor market.

Spartan Capital Chief Market Economist Peter Cardillo said:

We all expected a slight rise in inflation, but inflation has not spiraled out of control. That's key. It paved the way for a 25 basis point cut in December, which may now be on hold. But the pause is unlikely to be due to inflation data, but rather to uncertainty over Trump's tariffs. I think the Fed will become cautious.

Ethercoin has surged sharply, reaching a high of $3,684.

Ethercoin has recently risen sharply, rising from 3,252 to a high of 3,684 US dollars this morning, with a rise of over 10% in the past 24 hours. Analysts at Wintermute state that capital flows are shifting from Bitcoin to Ethercoin, and activity in derivative markets indicates increasing confidence in the recent rise of ETH.

However, compared to BTC, which has set multiple historical highs this month, Ethercoin's rise is still lagging behind. Ethercoin still needs to rise another 35% to reach its historical high of $4,868 in 2021!

Source: Chain News

The market Fluctuation may intensify during the Thanksgiving holiday with light trading activity.

The US stock market will be closed this Thursday for Thanksgiving holiday, and will close early on Friday. It is expected that the volume may be relatively light this week, but the market volatility may intensify even in the case of reduced volume. Investors should be aware of the trading risks.

The Federal Reserve's preferred inflation gauge, the October Personal Consumption Expenditures (PCE) Price Index, rose 0.2% for the month and 2.3% for the year, compared to last month's 2.1% rise.

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are applicable to their specific situation. Investing based on this is at your own risk.

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The US stock market closed in the black on the eve of Thanksgiving! But Ether saw a big pump of 10%, is it now the turn for Crypto Assets to perform? This article was first published in the 'encryption city'.