New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Bitcoin Price Rises Amid Election Speculation
Bitcoin’s price saw a modest increase on Thursday, trending toward strong weekly gains fueled by speculation regarding a potential Donald Trump victory in the upcoming presidential elections. The leading cryptocurrency reached its highest point since late July earlier this week, driven by a wave of positive factors, although the current momentum appears to be stabilizing.
As of 00:59 ET (04:59 GMT), Bitcoin rose 0.7% to $67,733.1, briefly surpassing $68,000 earlier this week. This week, Bitcoin is up more than 7%, marking its best performance since early September.
Key Factors Driving Bitcoin Gains
Several factors are boosting Bitcoin's price, including increased speculation around Trump’s election prospects. Polls indicate that Trump is gaining momentum against Democratic nominee Kamala Harris, who has committed to developing a regulatory framework for cryptocurrency.
Additionally, the defunct exchange Mt. Gox has extended its timeline for token returns to creditors, alleviating immediate selling pressures. Improved capital flows into crypto investment products this past week also reflect a positive sentiment in the market.
Other Cryptos Struggle
While Bitcoin remains positive, other major cryptocurrencies are losing steam. Ether declined 0.4% to $2,618.86 but is still up 5.7% for the week. Other tokens, including XRP, SOL, MATIC, and ADA, saw declines between 0.4% and 4%, despite weekly gains. Notably, DOGE rose 6.8%.
