**Crypto Rebounds Strongly (Dec 3) – Key Updates** The crypto market posted a long-awaited sharp rebound overnight and this morning. As of press time, major coins like Bitcoin and Ethereum have recouped losses from the Dec 1 sell-off: Bitcoin briefly hit $92,000, while Ethereum climbed back to $3,000. ### Top News Drivers: – **Vanguard’s Crypto Debut**: The world’s second-largest asset manager will let its 8 million self-directed brokerage clients trade BlackRock’s Bitcoin spot ETF — its first crypto access for retail investors. Bank of America separately advised clients to allocate 1%-4% of portfolios to digital assets. – **Fed Chair Hint**: Trump strongly suggested Kevin Hassett could take over as Fed Chair at a press conference, again criticizing Jerome Powell for not cutting rates. Markets are betting the crypto-friendly Hassett will get the role. – **Fed Ends QT**: The Fed officially confirmed it’s ending quantitative tightening yesterday. While some say effects won’t materialize until early 2024, loose liquidity expectations are already fueling gains. – **Stocks & Crypto Sync**: U.S. stocks closed higher (Nasdaq +0.59%, Dow +0.39%), with Bitcoin and tech shares rebounding in tandem. – **Japan Bond Calm**: A stabilized Japanese government bond auction eased fears of an imminent rate hike in the country.
