FTSE 100 quiet but steady, while Bitcoin continues to struggle

Chris Beauchamp IG

While it hasn't managed a new record high this week, the FTSE 100 can feel satisfied with its run this year, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 falls short of 10,000

For a while last week it looked like the FTSE 100 might well make 10,000 before Christmas, but gains have stalled in recent days. The index has still managed to beat the S&P 500 so far this year, marking a welcome change from previous years, though the latter index managed a fresh record high yesterday. Given the way AI bubble fears and worries about expensive US stocks are unlikely to go away next year, we can expect the rotation trade to continue benefiting the index in 2026.

Attention now turns to whether we do get the ‘Santa Rally’, which is strictly speaking an event that comes between Christmas and New Year. The recent slump in the VIX augurs well for a bounce, given that previous instances of sharp falls in volatility have delivered a commendable 0.8% bounce in the S&P 500 over the next week.

Bitcoin limps towards Christmas

Festive cheer has been in short supply for cryptocurrencies, which have lagged well behind stocks and crypto currencies this year. The divergence with gold and other precious metals is especially stark – bitcoin was once crowned ‘digital gold’, but its miserable run since the summer means gold, and silver even more so, now should be called ‘physical bitcoin’. $85,000 seems to be the low for now, but there is precious little sign of a real bounce materialising as yet.

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Chris Beauchamp

EUR/USD holds firm near 1.1850 amid USD weakness

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GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

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Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

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Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.