🌍 Global Financial Market and Economic News

US Government Shutdown Averted: News regarding the resolution of the recent US government shutdown (which had been looming since October 1st) has boosted global stock markets.

Impact: This has restored investor confidence, as it increases hopes for a potential interest rate cut by the Federal Reserve.

AI Stock Rally: The technology sector, particularly stocks related to Artificial Intelligence (AI) such as AMD, has seen a significant rally, pushing major Wall Street indices higher.

Bond Market Concerns: Some analysts are warning of a potential Bond Market Crisis in the coming years due to the mounting debt (deficits) of wealthy nations.

Geopolitical Tensions: Ongoing conflicts globally (especially in Ukraine, Gaza, and the Red Sea) are exerting pressure on global supply chains and commodity prices.

📉 Cryptocurrency Market Update

The crypto market has recently undergone a major shift, experiencing a significant downturn after a period of strong growth:

Bitcoin Slips Below $100,000:

Major News: Bitcoin's price dropped below the critical psychological level of $100,000 yesterday, leading to widespread forced liquidations across the market.

Reason: Investors took profits at higher valuations, and some analysts have linked the sell-off to concerns over high valuations in AI and tech stocks.

Altcoins Under Higher Pressure: Smaller coins (Altcoins) like Ethereum and Solana have experienced a more severe drop compared to Bitcoin.

Continued ETF Inflows: Despite the price drop, US Bitcoin and Ether ETFs recorded inflows of approximately $253 Million yesterday, which indicates some underlying support and hope for stabilization in the market.#MarketPullback #ProjectCrypto #GENIUSAct #CryptoIn401k $ETH $SOL $XRP