Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
South Korea Tax Windfall Could Top 50 Trillion Won on Chip Boom 
US Stocks Face Jobs, Inflation Test as Fed Rate Hike Bets Rise 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Europe’s AI Data Centre Boom Strengthens Case for Nuclear Power 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Trump to Ease U.S. Fuel-Economy Standards 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
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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%.
