Ether (ETH), Silver Prices in the Spotlight: Crypto Daybook Americas

By Omkar Godbole (All times ET unless indicated otherwise)

Last week, CoinDesk flagged the potential for action in crypto cross pairs even as major tokens and the broader market looked lackluster against the dollar. Since then, the biggest cross by market value, ether ETH $ 3,313.93 priced in bitcoin BTC $ 92,095.34, has delivered, and today touched 0.036, the highest since Oct. 27.

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The ADA/BTC pair also advanced, touching its strongest level since Nov. 20. Bitcoin BTC $ 92,095.34 dropped back after briefly popping to $94,500 late Tuesday. ETH, ADA and privacy coins XMR and ZEC all jumped more than 7% in 24 hours, while SOL, DOGE, XLM, LINK and HYPE rose around 2%.

The cross pairs could extend gains if, as expected, the Fed cuts interest rates by 25 basis points and, more importantly, Chair Jerome Powell strikes a dovish tone, reviving hopes of more rate reductions next year. As of now, markets seem to be anticipating a hawkish forward guidance, hence the continued uptick in the 10-year U.S. Treasury yield.

Beyond the Fed, a pending Supreme Court decision on the legality of President Donald Trump’s “reciprocal” tariffs could add another layer of volatility. The decision is due any day.

If the court invalidates the tariffs, it could strip out a source of inflation concerns and trade uncertainty, encouraging a risk-on tone into the year-end.

Several investment banks, including Goldman Sachs, have noted that the Trump administration could still lean on other tools, such as Section 232 levies, to reimpose trade pressure.

In other policy news, the IMF warned that stablecoins may pose foreign-exchange risks to emerging markets, although experts argue they are not yet large enough to have a truly systemic impact. In Washington D.C., the teachers’ union, AFT, slammed the latest crypto market bill, warning of “profound risks” for Americans’ retirement plans.

In traditional markets, silver surged to a record high of $61.60 per ounce. It's more than doubled this year. The dollar index is holding near 99.00, while the 10-year Treasury yield has risen to its highest level since Sept. 4. Stay alert!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today

What to Watch

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Crypto Dec. 10: Celo’s Jello hardfork to bring ZK-powered fault proofs to the network.

Macro Dec. 10, 7 a.m.: Brazil Nov. headline inflation rate YoY Est. 4.49%, MoM Est. 0.09%. Dec. 10, 9:45 a.m.: Canada central bank interest-rate decision. Benchmark rate Est. 2.25%. 10:30 a.m. press conference Dec. 10, 2 p.m.: Federal Open Market Committee (FOMC) U.S. interest-rate decision (25-basis-point cut to 3.5%-3.75% expected) and economic projections; 2:30 p.m. press conference (watch live). Dec. 10, 4:30 p.m.: Brazil central bank interest-rate decision. Benchmark rate (Prev. 15%).

Earnings (Estimates based on FactSet data) Nothing scheduled.

(Estimates based on FactSet data)

Token Events

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Conferences

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Market Movements

BTC is up 0.29% from 4 p.m. ET Tuesday at $92,941.70 (24hrs: +3.02%)

ETH is up 1.37% at $3,347.76 (24hrs: +8.07%)

CoinDesk 20 is up 0.25% at 2,994.20 (24hrs: +4.48%)

Ether CESR Composite Staking Rate is down 1 bp at 2.81%

BTC funding rate is at 0.0014% (1.4925% annualized) on Binance

DXY is down 0.1% at 99.12

Gold futures are down 0.27% at $4,224.60

Silver futures are up 1% at $61.45

Nikkei 225 closed down 0.1% at 50,602.80

Hang Seng closed up 0.42% at 25,540.78

FTSE is up 0.12% at 9,653.16

Euro Stoxx 50 is down 0.18% at 5,708.20

DJIA closed on Tuesday down 0.38% at 47,560.29

S&P 500 closed unchanged at 6,840.51

Nasdaq Composite closed up 0.13% at 23,576.49

S&P/TSX Composite closed up 0.24% at 31,244.37

S&P 40 Latin America closed up 0.27% at 3,135.99

0.27% at 3,135.99 U.S. 10-Year Treasury rate is up 1.9 bps at 4.205%

E-mini S&P 500 futures are unchanged at 6,851.50

E-mini Nasdaq-100 futures are unchanged at 25,708.50

E-mini Dow Jones Industrial Average Index futures are unchanged at 47,602.00

Bitcoin Stats

BTC Dominance: 59.14% (+0.08%)

Ether-bitcoin ratio: 0.03586 (0.16%)

Hashrate (seven-day moving average): 1,043 EH/s

Hashprice (spot): $39.21

Total fees: 2.98 BTC / $273,149

CME Futures Open Interest: 123,905 BTC

BTC priced in gold: 22 oz.

BTC vs gold market cap: 6.19%

Technical Analysis

SOL's hourly chart in candlestick format. (TradingView)

The chart shows solana's SOL $ 138.96

Solana’s native token continues to trade in a sideways channel, with $145 as the upper boundary and $125 as the lower boundary.

The next big move will likely unfold in the direction in which the range is eventually resolved.

Crypto Equities

Coinbase Global (COIN): closed on Tuesday at $277.36 (+1.15%), +0.1% at $277.63 in pre-market

Circle (CRCL): closed at $88.88 (+5.86%), +0.24% at $89.09

Galaxy Digital (GLXY): closed at $29.45 (+12.88%), +0.2% at $29.51

Bullish (BLSH): closed at $46.11 (+0.39%), -0.46% at $45.90

MARA Holdings (MARA): closed at $12.25 (+1.66%), +0.24% at $12.28

Riot Platforms (RIOT): closed at $15.51 (+3.68%), unchanged in pre-market

Core Scientific (CORZ): closed at $17.49 (-1.13%), +0.34% at $17.55

CleanSpark (CLSK): closed at $14.85 (+6.91%), -0.13% at $14.83

CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $47.43 (+2.15%)

Exodus Movement (EXOD): closed at $15.28 (+2.96%)

Crypto Treasury Companies

Strategy (MSTR): closed at $188.99 (+2.89%), +0.69% at $190.30

Semler Scientific (SMLR): closed at $20.37 (+3.03%), +1.57% at $20.69

SharpLink Gaming (SBET): closed at $11.60 (+4.88%), -0.17% at $11.58

Upexi (UPXI): closed at $2.56 (-1.92%), unchanged in pre-market

Lite Strategy (LITS): closed at $1.83 (+6.4%)

ETF Flows

Spot BTC ETFs

Daily net flows: $151.9 million

Cumulative net flows: $57.69 billion

Total BTC holdings ~1.3 million

Spot ETH ETFs

Daily net flows: $177.7 million

Cumulative net flows: $13.11 billion

Total ETH holdings ~6.26 million

Source: Farside Investors

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