The cryptocurrency market is experiencing a phenomenal surge. On December 5th, Bitcoin officially breached the $100,000 mark, rising over 5% in a single day, setting an all-time high.

Bitcoin surged from $68,000 to $100,000 in just a monthThis year alone, Bitcoin has accumulated an astonishing 140% increase.

Fifteen years since its inception, Bitcoin's market cap is nearing $2 trillion, comparable to two Tesla companies or two TSMC valuations.

In the Hong Kong stock market, cryptocurrency-related stocks are performing strongly, with Meitu rising over 9% during trading

The company announced that starting November 2024, it would begin selling the cryptocurrencies it has acquiredAs of December 4, 2024, Meitu sold its entire cryptocurrency holdings, including 31,000 Ethereum units and 940 Bitcoin units, generating a cash return of $180 million with profits amounting to approximately $79.63 million.

The continuously strengthening cryptocurrency market also causes substantial losses for short sellers. According to CoinGlass data, over the past 24 hours, more than 210,000 users suffered liquidations in the cryptocurrency market, amounting to a total liquidation value of $674 million, with the largest single liquidation occurring in the Bitcoin market, valued at $8.91 million.

Returning to the A-share market, capital continues to flow into index funds, leading to a record high in stock fund issuance, the highest in nearly nine years!

In November, stock fund issuance reached a staggering 104.633 billion units, the second-highest monthly level in history

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Notably, the CSI A500 index funds dominated, accounting for about 90% of this total, with a combined issuance of 96.619 billion units.

The previous record was set during the 2015 bull market, where the issuance of stock funds reached 116.675 billion units in June.

This year's newly established public funds are primarily focused on stock funds, with index funds leading the way.

The recent surge of ETFs has attracted a significant influx of new capital, with CSI A500 series index funds breaking records by attracting over 200 billion yuan.

New funds are being reported, indicating that additional new capital is on the way

On December 4, the Shanghai Stock Exchange held a meeting to gather opinions and suggestions on promoting the high-quality development of the ETF market and to discuss the long-term allocation value of the SSE 180 ETF product.

A relevant official from the Shanghai Stock Exchange stated that the SSE 180 Index is an important benchmark index in China's capital market and the Shanghai Index systemThe optimization of the index and the expansion of product offerings are crucial steps in implementing the new "National Nine Articles" strategy, expediting investment reforms, and promoting the influx of new and medium-term funds for investment, ultimately aiding investors in allocating core assets in the Shanghai market.

This year, funds in ETFs have attracted substantial amounts of capital for bottom fishing in the A shares, but previously disclosed data from October shows that compared to passive ETFs, actively managed funds have been chillingly dull.

Mixed fund issuance in October saw a reduction of about 110 billion units, continuing a streak of ten months of declining mixed fund holdings.

Most active funds are equity-biased hybrid funds, and market speculation has arisen: In the first nine months of this year, investors heavily redeemed their actively managed equity funds, but after the massive rally at the end of September, investors opted to sell these funds at a high price in October.

Overall, while there is new capital entering the market, investors seem to lack the enthusiasm for active funds that they once had, with many choosing to invest in ETFs themselves.

The US stock market continues its ascent, with the S&P 500 and Nasdaq Composite Index hitting new highs on Wednesday, led by technology stocks.

In the A-share market, QDII ETF is experiencing a premium, with the S&P Consumer ETF having a premium rate exceeding 11%, the S&P 500 ETF at 8%, and both Dow Jones ETFs and Nasdaq Tech ETFs exceeding 4% in premiums.

Recently, Federal Reserve officials have been expressing cautiously optimistic views regarding inflation, asserting that they still expect it to fall to the 2% target level while indicating support for further rate cuts in the future, yet remaining silent on whether they will lower rates again at the upcoming meeting.

Chairman Powell stated on Wednesday that the economy is strong enough to allow the Fed to cautiously move forward with rate cuts, elaborating on certain rate-related issues: economic growth is outpacing expectations compared to the Fed's first rate cut in September, inflation has risen slightly, and they can be more circumspect with rate cuts while searching for neutral interest rate levels; it's premature to assess the impact of tariffs and other policies on future economic and rate outlooks.

As the US stock market reaches new highs, some influential figures are sounding alarms about risks.

The Rockefeller family has warned that the US market is cultivating a colossal bubble

They stated that global investors are currently pouring vast amounts of capital into US assets, creating an unprecedented bubble and distorting the fundamentals of other economies.

They believe that currently, US stocks account for nearly 70% of major global indices, and the valuations at the height of the internet bubble in 2000 exceeded current levels, yet unlike now, the premium relative to other regions of the world wasn't as exaggerated.

Additionally, Joe Davis, Chief Economist at the global asset management giant Vanguard, has also issued warnings that the current frenzy for AI stocks could be overstating the short-term potential of this technology, increasing the risk of price "corrections." Davis states that companies closely tied to the AI investment boom may not ultimately become the biggest beneficiaries, regardless of the transformation that AI may bring in the coming years.

The US stock market in the last two years resembles a wild horse running free, and interestingly, each time a bearish voice arises, it is quickly refuted, with one Wall Street analyst even losing their job for their bearish stance on US stocks.

Even Warren Buffett, the investment guru, has net-sold US stocks for several consecutive quarters