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Stock impact report

BTC, Gold Jump as Shutdown Delays Data, Fuels Rate-Cut Bets: Crypto Daybook Americas [Yahoo! Finance]

Brera Holdings PLC - Class B Ordinary Shares (BREA) 
Company Research Source: Yahoo! Finance
With the U.S. government shutdown and traditional market indicators like employment reports delayed, traders are leaning into alternative assets, especially bitcoin and gold. BTC climbed to $120,000 after rallying 9% this week, while gold rose 2.9% to touch $3,900. The shutdown has furloughed over 90% of SEC staff and left the CFTC with a skeleton crew. Reacting to the shutdown markets rallied, as investors see the Federal Reserve lowering interest rates by 25 bps later this month as a near certainty over an unexpected drop in U.S. private payrolls and a delay in other key economic data. “Traders have lacked immediate catalysts, evidenced by subdued commitment following the FOMC meeting, even as gold and equities have posted strong gains. However, the broader trend remains higher as we move into a rate-cutting cycle,” Jake Ostrovskis, Head of OTC Trading at Wintermute, told CoinDesk. Lower interest rates make risk assets like cryptocurrencies more attractive, and that's coming Show less Read more
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