China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
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%.
