Bitcoin news

XRP, one of the largest cryptocurrencies, fell sharply Friday, continuing its downward momentum after the Federal Reserve hinted at fewer interest rate cuts next year. XRP is down 6.4% over the past 24 hours, trading most recently at $2.19, according to CoinDesk data. XRP is highly volatile, even for a cryptocurrency.

US stock futures (ES=F, NQ=F, YM=F) are slipping Friday morning after the Personal Consumption Expenditures (PCE) price index rose by 2.8% in November, just 0.1% below economists' estimates A government shutdown looms after House Speaker Mike Johnson's (R-La.) bipartisan spending bill was rebuffed by President-elect Donald Trump and Elon Musk, who Trump tapped to co-lead the proposed Department of Government Efficiency (DOGE). Novo Nordisk (NVO) shares dive by over 20% in Friday's pre-market trading after its experimental weight-loss shot CagriSema helped patients lose less weight than anticipated in its clinical trial. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.

The latest investor updates on stocks that are trending on Friday.

In November, the core PCE index, which strips out food and energy costs and is closely tracked by the Fed, rose 0.1% from the prior month.

(Bloomberg) -- A Bitcoin slide from a record high earlier this week extended to more than 10%, as reduced scope for looser US monetary policy dampened speculative zeal.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalReviving a Little-Known Modernist Landmark in BuffaloThe price of the original cryptocurrency dropped as low

Investment platform Robinhood is set to start offering options trading to its UK customers early in 2025.

With President-elect Donald Trump's return to the White House quickly approaching, investors weigh the prospect of a strategic bitcoin (BTC-USD) reserve. Senator Cynthia Lummis (R-WY), who introduced the bipartisan Lummis-Gillibrand Responsible Financial Innovation Act focused on regulating crypto, joins Catalysts Co-Hosts Seana Smith and Madison Mills to talk about her stance on the Federal Reserve holding bitcoin. "I want our federal government to have a strategic bitcoin reserve that can help back the US dollar as the world's reserve currency and then serve as a long-term savings account, thereby offsetting our national debt, which is over $36 trillion now," Lummis tells Yahoo Finance. The republican senator says, "My proposal would have the US purchase, through other assets that already owns, 200,000 bitcoin a year for five years, for a total of a million, hold it for at least 20 years, and at the numbers that we project, that would accrue a fund that's worth about $16 trillion." Lummis adds the reason why the federal government has not already pursued bitcoin as a solution to the national deficit is because, as indicated by Fed Chair Jerome Powell at the Fed's Decemeber meeting, it doesn't believe the central bank has the legal authority to own bitcoin. "We need to give that to them," she says. Check out Yahoo Finance's full interview with Senator Lummis here. Also catch Senator Kirsten Gillibrand (D-NY) discuss crypto regulation and Trump's pick for Paul Atkins to lead the Securities and Exchange Commission (SEC) with Yahoo Finance. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Naomi Buchanan.

The Dow Jones Industrial Average (^DJI) snaps its ten-day losing streak by closing Thursday's session just 0.04% higher, while the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) move lower by nearly 10% a piece. Market Domination Overtime's Julie Hyman and Yahoo Finance markets and data editor Jared Blikre review market performances following the Federal Reserve's latest round of interest rate cuts on Thursday, including the latest moves in the bond market (^TYX, ^TNX, ^FVX), the US dollar (DX-Y.NYB), and bitcoin (BTC-USD). To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Luke Carberry Mogan.

Yahoo Finance host Rachelle Akuffo dives into three stories from several of the top trending stock tickers on the Yahoo Finance platform. Accenture (ACN) shares are popping after topping its fiscal first quarter earnings estimates. Brokerage site Robinhood Markets (HOOD) and crypto exchange Coinbase Global (COIN) see their stocks move higher amid bitcoin's recent volatility (BTC-USD). Lastly, Vertex Pharmaceuticals (VRTX) shares are dropping Thursday morning in response to its Phase 2 trial results for its new non-opioid painkiller. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Luke Carberry Mogan.

While Federal Reserve Chair Jerome Powell was adamant that the central bank could not own bitcoin (BTC-USD), Senator Cynthia Lummis (R-WY) believes 2025 is shaping up to be "the year for bitcoin & digital assets" in a social media post from earlier this week. Senator Lummis — who has championed the bipartisan Lummis-Gillibrand Responsible Financial Innovation Act (RFIA) alongside Democratic Senator Kirsten Gillibrand (D-NY) — has been a vocal supporter of President-elect Donald Trump's choice of David Sacks as the incoming administration's "AI and crypto czar" and what it represents for the crypto space. Senator Lummis sits down with Seana Smith and Madison Mills on Catalysts to discuss the outlook of a US strategic bitcoin reserve, calling the landmark cryptocurrency "the right asset" and "digital gold" for being a finite resource. "Only 21 million bitcoin will ever be mined. And it has the elements of strength. And even though it's slightly volatile, it's always volatile in an upward-leaning direction. And so the goal here of holding it for 20 years is in recognition that on the short term, there is short-term volatility. On the long term, there is long-term growth that far exceeds the ability of the US dollar to keep up." Bitwise Asset Management CIO Matt Hougan told Yahoo Finance this week that a US investment into a strategic bitcoin reserve could propel the cryptocurrency's price to $500,000. "The US dollar is designed to debase. The Fed has a goal of 2% per year inflation, whereas bitcoin's goal is to far, far exceed in value inflation and far exceed the value of the US dollar," Sen. Lummis explains. "And so far from inception, it has done exactly that. It's grown about 55% per year. And if you look at the long term, over time, it'll drop from 55% a year to 45% a year to 35% a year. But it will continue to grow where the US dollar will continue to decline in value." Catch Yahoo Finance's full interview with Senator Kirsten Gillibrand (D-NY), where the lawmaker speaks more about the crypto regulation bill and Trump's choice Paul Atkins as the next chair of the Securities and Exchange Commission (SEC). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Luke Carberry Mogan.

The rally in XRP and other cryptocurrencies has put focus on where digital assets might be heading in 2025.

US stock futures (ES=F, NQ=F, YM=F) are staging a slow recovery from yesterday's sell-off fueled by the Federal Reserve's latest interest rate cut and forecasts that illustrate the central bank's plans to cut less in 2025. Backing President-elect Donald Trump's sentiments, Elon Musk is a pivotal voice in opposing House Speaker Mike Johnson's (R) proposed funding deal, intensifying worries of a government shutdown over this weekend right before the holidays. Micron Technology (MU) shares fall lower after releasing fiscal second quarter revenue forecasts that fell below Wall Street expectations. Nike (NKE) is set to report earnings after Thursday's market close. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.

Markets now expect only two interest rates cuts next year

Only two cuts in 2025 is a significant shift from earlier expectations.

Pound and commodities lower as Fed signals rate caution

Some bitcoin (BTC-USD) miners are shifting into artificial intelligence (AI) and selling their existing power to AI data centers as Big Tech companies look for power sources capable of meeting the energy-intensive needs of AI infrastructure. Core Scientific (CORZ) CEO and president Adam Sullivan joins Madison Mills on Catalysts to talk about how the company is balancing its resources to facilitate crypto mining and AI data centers. "We were the largest bitcoin mining company for the past three years, and that's really driven by the fact that we had to bring in traditional data center people to actually run the business. That's really been our differentiator," Sullivan tells Yahoo Finance. The CEO says, "We think of ourselves as a digital infrastructure company, whether it's building data centers for bitcoin mining or whether it's building data centers to host hundreds of megawatts of [Nvidia's (NVDA)] GB200 that you guys were talking about earlier, you know, our core competency is driven through large-scale digital infrastructure." Looking to 2025, the company expects "a relatively equal split" between crypto mining and AI. Sullivan adds, "Our expectation is to continue to grow the data center part of the business, which is just a radical shift from the high volatility bitcoin mining space moving into the data center space" as the "long-term contracts" provide "a lot of long-term and free cash-flow stability that investors really enjoy." Watch the video above to learn more about how Core Scientific is balancing the needs of bitcoin mining and AI customers. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Naomi Buchanan.

XRP has rallied over 400% since President-elect Donald Trump won the election, but Investors should brace for more volatility.

The latest investor updates on stocks that are trending on Wednesday.

Bitcoin price fell early Wednesday, pulling back somewhat from a record high earlier this week as investors’ attention turned to the next interest rate decision by the Federal Reserve. The world’s largest cryptocurrency is down 3.2% over the last 24 hours to $103,989, according to CoinDesk data. Cryptocurrencies across the board got a boost Tuesday after Ripple, the payment platform that issues the digital token XRP which used to settle payments on its platform, announced the beginning of trading of a new stablecoin under the name RLUSD.

Discover the best credit cards to save money, earn rewards, and travel smarter.