Ether, Silver, and Crypto Markets in Focus Amid Economic and Regulatory Developments
Ether trades near $3,312.56 with an ETH/BTC ratio at 0.036 BTC, marking the highest cross value since October 27. ADA/BTC has strengthened to levels last seen on November 20, while Bitcoin briefly spiked to $94,500 before settling around $91,884.62.
Privacy-focused coins Monero (XMR) and Zcash (ZEC) surged over 7% in the past 24 hours. Other cryptocurrencies such as Solana (SOL), Dogecoin (DOGE), Stellar (XLM), Chainlink (LINK), and HYPE saw gains of approximately 2%.
Markets are anticipating a 25-basis-point Federal Reserve rate cut accompanied by dovish comments from Chairman Powell, even as the 10-year U.S. Treasury yield edges higher. On the regulatory front, a Supreme Court decision on former President Trump's reciprocal tariffs is forthcoming; an invalidation by the court could alleviate inflation concerns and reduce trade uncertainty. Goldman Sachs has noted the continued possibility of the use of Section 232 trade tools.
The International Monetary Fund (IMF) has issued a warning that stablecoins could create foreign-exchange risks for emerging markets, though experts consider the current stablecoin market not systemically large yet.
In commodities, silver reached a record high of $61.60 per ounce, with futures up about 1%. The dollar index remains near 99, while the 10-year Treasury yield hovers near multi-month highs.
Market data show Bitcoin dominance at 59.14%, Ether-to-Bitcoin ratio at approximately 0.03586, Bitcoin near $92,000, and Ether around $3,347. The calendar for December 10 includes the FOMC decision, Brazil and Canada interest rate decisions, a Celo hardfork, and various crypto listings.
