Published: 4 December 2025,06:00
Daily Market Analysis New
*A shock contraction in ADP employment (-32k) has strengthened expectations for a Fed rate cut next week.
*Vanguard’s reversal allowing access to select crypto ETFs opens the door for millions of traditional investors, creating a powerful new pipeline for long-term inflows.
*Ethereum’s Fusaka mainnet upgrade boosts scalability and network efficiency, reinforcing investor confidence and driving ETH’s two-day double-digit rally above $3,200.
Digital asset markets extended their bullish momentum into a second consecutive session, with Ethereum closing 6% higher after Tuesday’s 7% surge. ETH breached the $3,200 level, reaching its highest valuation in two weeks, as the total cryptocurrency market capitalization advanced over 7% to $3.24 trillion.
The rally is being propelled by a powerful confluence of macro, institutional, and technical catalysts. A pivotal macroeconomic tailwind emerged from yesterday’s ADP employment report, which showed a surprising contraction of 32,000 jobs. This significant weakness has solidified market expectations for a Federal Reserve rate cut at next week’s FOMC meeting, substantially improving risk appetite across speculative assets.
Concurrently, a major institutional barrier has been lifted. Vanguard Group, the world’s second-largest asset manager with over 50 million clients, has reversed its longstanding policy and will now permit access to select cryptocurrency ETFs on its platform. This decision opens a vast pool of traditional investor capital to the digital asset ecosystem, potentially unlocking billions in long-term, structured inflows.
Further bolstering Ethereum specifically, the network successfully activated its highly anticipated Fusaka upgrade on the mainnet. This hard fork delivers critical scalability improvements, enhancing the network’s throughput and efficiency—a fundamental development that has directly strengthened investor confidence in ETH’s underlying utility.
The convergence of a dovish macro pivot, landmark institutional adoption, and positive network development has created a robust foundation for the current rally. While sentiment is decisively risk-on, the market’s trajectory in the coming weeks will hinge on the Federal Reserve’s official policy decision and forward guidance on December 10.
Ethereum has confirmed a decisive bullish breakout, surging more than 10% across the past two sessions to decisively overcome the key $3,075 resistance zone. The sustained move above this level—coupled with a current hold above $3,200—signals a robust structural shift and establishes a clear bullish near-term bias.
The breakout represents a significant technical development, suggesting that prior selling pressure has been absorbed and that a new wave of buying interest is propelling the asset higher. This price action indicates strengthening underlying demand and a probable shift in market structure.
Momentum indicators provide strong corroboration of this bullish impulse. The Relative Strength Index (RSI) has entered overbought territory, reflecting intense and persistent buying pressure, while the Moving Average Convergence Divergence (MACD) has completed a bullish crossover above its zero line and continues to trend higher. This alignment confirms that bullish momentum is not only present but is actively accelerating.
Resistance level: 3,445.00, 3,700.00
Support level: 2,930.00, 2688.00
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