As the market enters Christmas week and the holiday light market conditions are encouraged by the strong closing on Wall Street, European stocks opened trading on Tuesday (December 24th) with a positive tone.

The US stock market began a new week of trading amidst the holiday atmosphere. The S&P 500 index rose by 0.73%, while the Dow Jones Industrial Average recovered from its previous decline with a slight increase of 0.16%. The Nasdaq Composite Index recorded a 0.98% increase, driven by strong performance from large tech companies such as Nvidia, Tesla, and Meta platform.

However, the stock price of MicroStrategy, the proxy stock for Bitcoin, fell 8.8% after its first entry into the Nasdaq 100 index, as BTC prices fell below $93000 on Monday.

Nevertheless, according to FactSet data, MicroStrategy remains one of the best performing US tech companies with a market capitalization of over $5 billion. The company's stock price has risen by 426% since the beginning of this year, mainly due to the accumulation of Bitcoin since 2020.

With the rise of Bitcoin after Donald Trump's election as president, MicroStrategy currently holds Bitcoin worth approximately $42 billion. This is also the basis for the company's market value to soar from approximately $1.1 billion to $82 billion.

If investors hope to profit from MicroStrategy's explosive growth, they need to remember that the company's stock price is currently based on fluctuations in the Bitcoin price. Conversely, if the price of Bitcoin drops significantly for some reason - considering the volatility of cryptocurrencies - MicroStrategy's stock price may also be affected.

It is expected that trading this week will be relatively light. The US market will close early on Tuesday and be closed on Wednesday for Christmas.

But easy trading does not mean low market volatility. Considering that the main upward trend in the market remains, we are not giving up the possibility of encountering Wall Street on Broadway this Christmas, "Craig Johnson, Chief Market Technical Analyst at Piper Sandler, said in a report.

As investors celebrate the holiday season - and S&P has risen 25.25% year to date - they may also discover an additional surprise under the Christmas tree.