💰 Crypto: Bitcoin To $100K This Weekend?

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Asian markets tread cautiously as US economic signals complicate Federal Reserve's potential rate cut strategies. Asian stocks wavered marginally, with Japan's Nikkei climbing 0.46%. US consumer spending remains resilient, but inflation's stubborn trajectory challenges the Fed's 2% target. Traders cautiously await potential December rate adjustments amid geopolitical and economic uncertainties.

In today’s email:

• Inflation: Sticky inflation causing a rally

• Bitcoin: $100k for Thanksgiving?

• Altseason: Delayed or here?

• Gold: Nation states keep piling!

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THE BIG IDEA

Dollar's decline and sticky inflation spark a cryptocurrency market revival, with Bitcoin surging past $96,000 and altcoins experiencing a vibrant rally

The PCE inflation report revealed persistent price pressures, challenging Federal Reserve expectations and signaling potential economic complexity.

Bitcoin bounced back dramatically after a brief correction, climbing 6.42% to trade above $96,600. This resurgence comes after a notable 9% pullback, with market analyst Rekt Capital noting Bitcoin's tendency to produce brief, volatile dips during its price discovery phase. Technical indicators suggest the cryptocurrency might be retesting key resistance levels, with analysts watching for potential upward momentum.

Market strategist Tavi Costa painted a complex economic picture, warning of a potential second inflationary wave. The dollar index experienced a significant 1.25% decline, falling from 107.204 to 105.855, which further complicated the market landscape. Costa emphasized the Federal Reserve's limited capacity to combat potential inflationary pressures, suggesting a challenging economic environment ahead.

Altcoin markets responded enthusiastically, creating a sea of green across digital assets

Kadena led the charge with a remarkable 25.3% gain, followed by Uniswap at 23.7% and PancakeSwap at 22%. Only six tokens in the top 200 failed to see positive movement, highlighting the market's overall bullish sentiment.

Additional market analysis from technical experts suggests a potential turning point. Mercury, another market analyst, noted that reclaiming moving averages likely indicates the bottom is in, with potential for continued uptrend across multiple timeframes. The cryptocurrency market capitalization now stands at a robust $3.34 trillion, with Bitcoin maintaining a dominant 57.1% share.

As the market approaches the Thanksgiving holiday, investors remain cautiously optimistic, watching for potential breakout signals and market-defining movements that could shape the digital asset landscape in the coming weeks.

MARKETS AT A GLANCE

TOP NEWS

Investment banks predict yuan's dramatic decline amid mounting U.S. tariff threats, signaling potential economic turbulence

Chinese investment banks forecast yuan to hit record lows, projecting an average of 7.51 per dollar by end-2025. Trump's potential 60% tariffs on Chinese goods intensify currency pressure. The offshore yuan has already lost over 2% since the recent U.S. presidential election, signaling challenging economic dynamics ahead.

Global hedge funds target massive Japanese real estate value hidden in corporate balance sheets, eyeing up to $165 billion in potential unrealized gains across multiple sectors

Investors are uncovering a goldmine of undervalued real estate in Japanese companies, with firms like Elliott Investment Management identifying massive value discrepancies. Tokyo Gas's property portfolio alone could be worth nearly its entire market value, sparking a new wave of activist investment strategies targeting overlooked corporate assets.

Eastern European central banks launch gold-buying spree, transforming regional monetary strategy as countries seek financial security amid geopolitical uncertainty

Eastern European nations are aggressively acquiring gold, with Poland leading global purchases and the Czech Republic targeting a dramatic increase in bullion reserves. Central bankers view gold as a critical hedge against external shocks, geopolitical tensions, and potential economic volatility, signaling a strategic shift in national investment approaches.

CRYPTO

Bitcoin hits $97K, then retreats, as Ethereum and XRP rally

Bitcoin briefly surpassed $97,000 before retreating to $95,500, while Ethereum and XRP surged 7%, supported by rising ETH activity and optimism over Scott Bessent’s nomination as Treasury Secretary. Ethereum’s on-chain volumes and record futures interest boosted gains. Broader market sentiment improved with risky assets rallying, led by Bessent’s market-friendly reputation and potential influence on trade policies under the Trump administration.

MetaMask integrates Venmo for easier fiat-to-crypto transactions in the US

MetaMask has partnered with Venmo, enabling US users to buy crypto directly via the payment app, supported by fintech provider Moonpay. This feature enhances MetaMask's onramp options, adding to its existing integrations with Apple Pay, PayPal, and bank transfers. While the Venmo partnership is US-specific, MetaMask's fiat-to-crypto capabilities are available in 200 countries globally.

Chris Giancarlo, former CFTC Chair, emerges as a frontrunner for Trump’s proposed “Crypto Czar” role, emphasizing crypto's priority in the new administration

Giancarlo highlighted the need for tailored crypto regulations, criticizing the SEC’s "one-size-fits-all" approach under Gary Gensler. He supports CFTC oversight for digital commodities like Bitcoin and Ether and envisions policies fostering U.S. crypto leadership. While aligned with Trump’s pro-crypto agenda, Giancarlo advocates for private-sector solutions over central bank digital currencies to preserve financial privacy and dollar dominance.

Altseason delayed due to lack of fresh retail capital, says Ki Young Ju

CryptoQuant CEO Ki Young Ju notes that a true altcoin season needs new retail capital, as institutional funds remain locked in ETFs and blue-chip assets like BTC and ETH. He emphasizes reigniting retail FOMO to boost liquidity for altcoins. Indicators such as record Ether futures open interest suggest potential retail activity, but alt seasons are expected to weaken over time.

GOLD

Russia leverages gold and China ties to bypass Western sanctions, using innovative trade tactics and informal networks

Russia is increasing its reliance on gold and barter systems to sidestep sanctions, with China playing a pivotal role in this strategy. Gold serves as a vital workaround, supporting clandestine payments and trade. With Beijing's growing gold acquisitions and tolerance for Russian financial maneuvers, the two nations are deepening economic cooperation, potentially reshaping global trade norms and challenging U.S.-led financial hegemony.

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