Crypto Market Today: Bitcoin-gold ratio drops to lowest since January 2024

[Federal Reserve Reserve Balances Drop to $2.93 Trillion, Hitting Lowest Level Since December 3] As of the week ending December 17, the Federal Reserve's reserve balances dropped to $2.93 trillion, a decrease of $40.1 billion compared to the previous week. This level marks the lowest point since December 3 of this year.

Charles Hoskinson pointed out that the launch of Trump Coin has led to a shift in cryptocurrency from a bipartisan consensus to being seen as synonymous with Trump, bad things, and corruption. （Decrypt）

[David Sacks: Looking forward to completing cryptocurrency market structure legislation in January] David Sacks, the White House's cryptocurrency and artificial intelligence lead, stated on the X platform that the legislation for cryptocurrency market structure is 'closer than ever' to being passed and is looking forward to completing this work in January.

[U.S. Stock Market Closes with Gains in Major Indexes, Trump Media & Technology Group Soars 41.9%] The U.S. stock market closed on Thursday with the Dow Jones Industrial Average up 0.14%, the S&P 500 Index up 0.79%, and the Nasdaq Composite Index up 1.38%. NVIDIA rose nearly 2%, Tesla gained over 3%, Micron Technology surged 10%, and Trump Media & Technology Group soared 41.9%. The Nasdaq Golden Dragon China Index rose 0.97%, while Dingdong Maicai dropped 7%.

Over $433 million in cryptocurrency positions have been liquidated in the past 24 hours, with over $281 million cleared for long positions and $152 million cleared for short positions. （Cointelegraph）