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Bitcoin Breaks $100,000 Mark
Bitcoin surged above $100,000 for the first time on Thursday, reaching a peak of $103,619, as investors grew optimistic about a supportive U.S. government under President-elect Donald Trump. This milestone marks a significant moment in the rise of digital assets, as the cryptocurrency's value more than doubled in 2023, contributing to a record $3.8 trillion market cap. Bitcoin's ascent is fueled by institutional adoption, advancements in decentralized finance, and clearer regulatory frameworks, especially with the nomination of Paul Atkins, a pro-crypto figure, to head the Securities and Exchange Commission. This shift signals a potential mainstream acceptance of cryptocurrencies, as experts, including Galaxy Digital's Mike Novogratz, predict that Bitcoin and the broader digital asset ecosystem are nearing full financial integration.
Unemployment Claims Rise Slightly as Labor Market Eases
The number of new unemployment claims in the U.S. rose modestly to 224,000 for the week ending November 30, reflecting a steady but easing labor market as 2024 progresses. Although layoffs remain limited, the sluggish pace of hiring has resulted in longer durations for unemployment claims compared to earlier in the year. Despite the slight uptick, jobless claims remain consistent with steady job growth, signaling a potential rebound in nonfarm payrolls. Meanwhile, the trade deficit shrank 11.9% in October, partly due to a drop in imports, which may influence economic growth in the coming months. The Federal Reserve's continued interest rate cuts are expected to further affect hiring and economic conditions heading into 2025.
What We’re Reading
The 2025 B2B Marketer's Cheat Sheet: Accelerate Your Marketing Momentum
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Tip of the Day
Embrace Networking
Networking can open new doors for your business. Attend events, collaborate with others in your industry, or join online communities to build connections and expand your reach.
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