HungTranCrypto

The gold market is witnessing a “fire-red” week as gold prices drop by 5–6%, marking the steepest decline since 2020.

Spot gold is currently around $4,113/oz, losing more than 3.3% just this week, due to profit-taking by investors, a stronger USD, and rising bond yields.

Attention now shifts to the CPI report and Fed policy, factors that could shake both gold and crypto.
📉 How is crypto reacting?

In the last 24 hours,

it has become the focal point of the trading community as the price surged over 150%, fluctuating sharply from $85 to a peak of nearly $274.

The trading volume reached nearly $400 million USD, reflecting the massive capital inflow into this token.

The heat comes from the new listing effect along with the media wave surrounding Giggle Academy – a charity education project supported by the GIGGLE community.
However, with a large volatility range, this token still has a high speculative memecoin nature, making it susceptible to strong corrections after the 'euphoria'.

1/ Why is the market extremely concerned?
CPI data is one of the important macroeconomic indicators that the Fed uses to assess inflation and make monetary policy decisions.
With a forecast of ~3% YoY — still far from the Fed's target of ~2% — if the data comes in higher than expected or does not cool down, the Fed may be more cautious in cutting interest rates.
In the current context, the market is pricing in two interest rate cuts from the Fed — the first could be as soon as next week, followed by one in December, each by 25 bps.

This week, the crypto market is buzzing with the name GIGGLE, a unique memecoin that combines humor, education, and charity. Despite being launched for a short time, GIGGLE/USDT quickly made it to the watchlist of the trading community due to its strong 'viral' nature and a message that stands out from most purely speculative memecoins.
1/ Why is GIGGLE so hot?
Limited supply: only ~ 1 million tokens, creating a scarcity effect.

The crypto market is vibrant today, as US inflation data cools down and global investment confidence recovers.
Bitcoin (BTC) increased to ~111,000 USD, recovering strongly after a series of correction sessions.
Ethereum (ETH) remains steady around 3,970 USD, benefiting from a return of capital to risk assets.
The total market capitalization of crypto increased by ~1.7%, with more than 90% of top coins slightly in the green.
JPMorgan is preparing to allow customers to use BTC and ETH as collateral for loans, marking a significant step in the integration of crypto into traditional finance.

After the liquidation of more than $19 billion in leveraged positions at the beginning of October, the market is stabilizing again.
Bitcoin (BTC) is holding around the range of $108,000 – $109,000
Ethereum (ETH) is trading at around $3,800, with narrower fluctuations than previous weeks.
Most altcoins are in a state of accumulation, reflecting the wait-and-see sentiment of large funds.
1/ Institutional money continues to flow into the market
T. Rowe Price, one of the oldest funds in the U.S., has just filed for its first crypto ETF. This move indicates that institutional confidence is returning amidst a sideways market.

The global financial market is experiencing a week full of volatility.

The domestic gold price is continuously adjusting, while Bitcoin – the “digital gold” – maintains a steady upward trend around 108,000 USD, after reaching a historic peak of 125,000 USD in early October.

Two seemingly different assets are reflecting the same story: the mindset of seeking value in the new era.