QCP: ETH is on the rise, Trump's market-friendly strategy is driving risk asset rebound

BlockBeats News, November 27th, QCP released its daily viewpoint stating that Bitcoin appears to have found support above $93,000. Meanwhile, MicroStrategy's stock price took a hit after its recent $54 million Bitcoin purchase (average purchase price of $97,862). MSTR ultimately found support at the 20-day Exponential Moving Average (EMA), held the day's low, and showed potential support above $350.

Following BTC's decline, ETH is staging a comeback, with a gain of over 4% yesterday, while BTC fell 1.5% during the same period. The market is shifting towards ETH, with the ETH/BTC exchange rate soaring from a post-election low of 0.0318 to 0.0366, a 13% increase. ETH's performance even outpaced the broader CoinDesk20 Index, which only rose by 0.5%.

After President-elect Trump nominated Scott Bennett as Treasury Secretary, Wall Street boosted market sentiment. The Dow Jones Index surged 439 points (+0.99%) to 44,860 points, while the S&P 500 index broke through the 6,000-point mark, and the Nasdaq Composite Index rose by 0.75%. Bennett outlined his U.S. economic "three-arrow" strategy, aiming to achieve a budget deficit of 3% by 2028, 3% GDP growth, and an increase of 3 million barrels per day in oil production. Bennett's market-friendly strategy and potential willingness to temper Trump's tariff policies have fostered optimistic sentiment, driving a broad market rebound with risk assets leading the gains.