News

Jinse Finance reported that the latest US data shows a surge in layoffs in October, raising market expectations for a Federal Reserve rate cut in December and pushing gold prices higher. BMI analysts stated that gold prices are expected to remain elevated in the coming weeks, but risks remain tilted to the downside due to uncertainty over a December rate cut. With limited official data due to the government shutdown, Federal Reserve officials remain divided on the future policy path. BMI analysts said: "For the remainder of 2025, unless US-China trade tensions suddenly escalate again, it will be very difficult for gold to break through the historical high of $4,381 per ounce."

ChainCatcher news, according to CoinDesk, Wall Street giant Citibank has warned that bitcoin's weak trading pattern may signal a weakening in the Nasdaq 100 index. Citibank analysts pointed out in a Thursday report that bitcoin's trading behavior has historically been closely correlated with the performance of the Nasdaq 100: when the cryptocurrency price is above the 55-day moving average, Nasdaq returns improve significantly. Currently, bitcoin has fallen below this threshold, and the risk-adjusted returns of the stock market have weakened. The bank's analysts attribute the recent weakness in cryptocurrencies mainly to tightening liquidity conditions. The U.S. Treasury rebuilding its cash balance, coupled with bank reserves dropping by about $500 billions since mid-July, has drained liquidity and put pressure on risk assets. However, the report notes that the Treasury balance is now approaching the level where rebuilding typically stops, suggesting that liquidity may soon improve, thereby boosting bitcoin and stocks.