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Is the ageing crypto bull market getting tired?

The crypto market capitalisation fell by 1.1%, cooling off after an impressive surge in the first half of Monday. The 50-day moving average near $3.62 trillion acted as technical resistance, and the market's climb stalled at $3.6 trillion. Despite Monday's impressive surge, the market may be forming a new, lower local maximum, continuing the downward trend that began just over a month ago.

Bitcoin fell back below $105K, after briefly touching $107K this morning. The market is clearly not ready to switch to a mode of frenzied optimism, continuing to take profits after growth impulses have been realised. The reduction in support from corporate buyers is having an impact.

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πŸ‡ΊπŸ‡Έ US pre-market: Mostly negative πŸ“‰

In the Electronic Technology sector, NVIDIA (NVDA) shares are down -1.84%, while AMD (AMD) shares are losing -0.74%.

In the Finance sector, Berkshire Hathaway (BRK.B) shares are up +0.13%, while JPMorgan Chase (JPM) shares are up +0.14%.

In the Technology Services sector, Microsoft (MSFT) shares are down -0.36%, while Alphabet (GOOGL) shares are down -0.56%.

The prevailing decline in large-cap stocks, particularly in the technology sector, increases the risk of a decline in the attractiveness of the stock market, which could lead to capital outflows and put pressure on the dollar in the short term.
The funeral for Gold has been postponed

The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny metal to find its footing. Steps to end the shutdown triggered the rebound from the recent low, and the US government shutdown made the Fed cautious. The central bank doubted the need to cut the federal funds rate at the end of the year. The resumption of US macroeconomic data publication will provide it with the necessary information and enable it to act.

The growing likelihood of tariffs being overturned in the Supreme Court is making Donald Trump nervous. The US president is resorting to extremes. He calls opponents of import duties fools and promises Americans $2,000 cheques at the expense of tariffs. This is reminiscent of the story of support measures during the COVID-19 pandemic. Receiving stimulus cheques laid the foundation for accelerating inflation from 2022 to 2023.

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▢️ Pro News Flash: Gold Rises from the Ashes πŸ”₯

After weeks of pressure, Gold is back in the spotlight. The Supreme Court’s doubts over US tariffs, combined with the Fed’s cautious tone during the shutdown, have helped the precious metal rebound. πŸ’°

As political uncertainty grows, investors are turning to Gold once again. With forecasts from major banks pointing towards new record highs, could this be the start of the next golden rally?

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Crypto: short-term rebound within medium-term decline

The crypto market cap continues to decline, losing nearly 2% over the past 24 hours to $3.47 trillion. Thus, the market remains within the downward trend that formed just over a month ago. Within this trend, there is potential for a decline to the next local lows of around 9%, and the market could rush towards the $3.2 trillion mark in the coming days.

The sentiment index at 24 remains on the border between fear and extreme fear. As in the spring, it will take a long time for sentiment to reverse. Since the end of September, Bitcoin has been regaining its share of the crypto market, which was lost in July.

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Germany’s annual consumer inflation in October stood at 2.3%, down slightly from 2.4% a month earlier but still above the ECB’s 2% target. The recent pickup in CPI has been one of the key reasons behind the pause in ECB easing.
πŸ‡ΊπŸ‡Έ US pre-market: Mostly positive πŸ“ˆ

In the Electronic Technology sector, NVIDIA (NVDA) shares are up +1.36%, while Broadcom (AVGO) shares are up +0.95%.

In the financial sector, JPMorgan (JPM) shares are up 0.33%, while Bank of America (BAC) shares are up 0.45%.

In the Retail sector, Amazon (AMZN) shares are up +0.86%, while Walmart (WMT) shares are virtually unchanged, down -0.09%.

The positive dynamics of the largest companies, with an emphasis on growth in the technology and retail sectors, are sustaining investor interest and may contribute to capital inflows, which could support the dollar amid stable market expectations.
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