Bitcoin decouples with gold: Both assets hold inflation-hedge narratives, however in the last week, bitcoin has been trending higher as gold has fallen sharply. The inflation rate of gold is currently 1.7%, compared to bitcoin’s rate of 1.8%. This dynamic will change dramatically after Bitcoin’s issuance halving in April 2024.
Project Atlas, a collaboration between the Bank of International Settlements and the central banks of Germany and the Netherlands, aims to provide customized data on cross-border flows for Bitcoin surveillance. Policymakers would be able to access customized dashboards for quick insights, according to the prototype.
US tech stocks led a modest rebound Wednesday after the release of weaker-than-expected payroll data for September. The Nasdaq rose 1.4%, shaking off intraday weakness. The dollar fell against its peers for the first time in three days, while oil and gold both slid lower.
The S&P 500 climbed 0.4% after reaching oversold conditions and attempting a run at the 200-day moving average.
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