Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Bitcoin Hits New Heights Amid Trump Election Speculation
On Monday, Bitcoin's price surged, briefly reaching a three-month high of $69,007.1, as speculation grows around Donald Trump's potential victory in the upcoming 2024 elections. The world’s largest cryptocurrency is now within $5,000 of its all-time high, and surpassing the $70,000 mark could signal a bullish trend.
Trump’s Pro-Crypto Stance Fuels Market Optimism
Recent polls and prediction markets indicate an increasing likelihood of a Trump win over Democratic nominee Kamala Harris. The crypto prediction platform Polymarket shows a 60.7% probability of Trump's victory compared to 39.1% for Harris. Trump's campaign is noted for its pro-cryptocurrency stance, promising to foster Bitcoin's growth in America and even accepting crypto donations.
The potential for a Trump presidency has traders optimistic about more favorable crypto regulations in the U.S., a significant issue in light of recent scrutiny from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). While Harris has expressed intentions for a regulatory framework for crypto, specifics remain unclear.
Broader Crypto Market Gains
As Bitcoin rallies, other cryptocurrencies are also benefitting. Ether, the second-largest cryptocurrency, rose 3.8% to $2,740.14, nearing a two-month high. Notably, SOL and ADA saw increases exceeding 6%, while XRP and MATIC gained nearly 4%. Among meme tokens, DOGE rose by 4.6%.
Recent data indicates that institutional investors are returning to the cryptocurrency market, further buoying prices as the election approaches. With just over two weeks until the vote, the market is bracing for a tightly contested presidential election.
