🚀💎 Bitcoin’s Rocket Ride to $103K!

Hala,

🍌💸 Crypto mogul Justin Sun paid $6.2M for a duct-taped banana artwork—then ate it, calling it “quite good.”(1) Who needs Sotheby’s when you’ve got snack time? 😂

amana’s Take

• The yen surged on whispers of a December rate hike from the Bank of Japan. Strong Tokyo CPI numbers and hawkish hints have markets betting the BoJ might finally ditch its ultra-dovish stance. Even a dovish official’s caution over inflation and wage growth couldn’t slow the speculation, sending USD/JPY tumbling below the 150.00 mark.
• Geopolitical tensions and jitters over US tariff policies have investors running for safety, with the yen leading the charge. Add to that a dip in US Treasury yields and a softer dollar, and the yen’s safe-haven glow is shining brighter than ever.
• The Federal Reserve’s cautious tone, combined with mixed US economic data, kept the dollar on the back foot ahead of Friday’s Nonfarm Payrolls report. With USD’s recovery stalling, the yen’s pressure on USD/JPY isn’t easing anytime soon. Safe to say, all eyes are on Tokyo—and Washington.

Stock Market Update

🌠🚀 U.S. stocks reached for the stars on Wednesday, with tech stocks flexing so hard they broke records. Salesforce and Marvell’s earnings powered up the S&P 500 by 0.61% to 6,086.49, the Nasdaq 100 rose 1.24% to 21,492.36, and the Dow by 0.69%, finally crossing the 45K finish line at 45,014.04.(2)(3) Tech practically came with a mic drop! 📈↗️

⬆️🆙 Gulf stocks mirrored the mood as traders eyed U.S. jobs data and Fed Chair Jerome Powell’s policy clues. Abu Dhabi gained 0.3% to 9,265, while Dubai added 0.1% to 4,854.(4) ⏫🔼

🎯🚀 Bitcoin Blasts Through $100K!

Bitcoin didn’t just break $100,000—it shattered it like a rocket piercing the financial stratosphere. (5) This milestone, boosted by a Trump-fueled crypto rally and institutional investor tailwinds, puts Bitcoin firmly in the financial mainstream. While skeptics clutch their pearls, Bitcoin just keeps moonwalking past expectations. The market cap for all cryptos hit a jaw-dropping $3.8 trillion, leaving tech giant Apple ($3.7T) in its dust. 💨🌌

💰📈 Bitcoin Highlights:

• Price Surge: Now trading at $103,335, Bitcoin has more than doubled this year.
• Election Effect: A 50% climb since Trump’s November victory turned Washington into a pro-crypto hotspot.
• Institutional Gold Rush: ETFs soaked up $4B post-election, with 3% of all Bitcoin supply scooped up in 2024.
• Crypto Allies: Trump nominates Paul Atkins (pro-crypto) for SEC and pitches the U.S. as the “crypto capital of the planet.”
• Crypto Stocks Rally: Coinbase (+65%) and MARA (+65%) lit up November like a holiday market. 🎄✨

🌠📉 Bitcoin’s Comeback Tour

Just two years ago, Bitcoin dipped below $16,000 during the FTX debacle, with founder Sam Bankman-Fried jailed. Now, it’s headlining Wall Street’s big show. With futures, ETFs, and options becoming household names, analysts predict crypto desks sitting alongside FX and commodities soon. Even Putin chimed in, asking, “Who can prohibit it? No one.”

Closer to Home

• 💰 Egypt’s port handling companies PSCCHC and DCHC, are setting sail for IPOs by Q1 2025, offering 20-25% stakes and eyeing investors like UAE giants AD Ports and DP World.(6) #IPOSurge 💸
• 🛍️ Dubai Duty Free’s soaring toward $2B in 2024, with November sales hitting $205M with a daily record of $8.46M. Perfumes, electronics, and gold? Still a jet-set favorite!(7) 🤑
• ⚒️ Saudi Aramco is gearing up to park one of the world’s largest carbon capture and storage hubs in Jubail to drive its emission mitigation  strategy. A big green step for the oil giant.(8) 💪

What Else Is Trending

• 🏦 Bank of England’s Governor Andrew Bailey hinted at four rate cuts in the U.K. next year if inflation stays on the cool-down. BoE’s rate scissors at the ready!(9) 📉
• 🛢️ Meanwhile, oil prices dipped on Wednesday, caught between OPEC+ suspense and a U.S. stockpile surprise. Brent fell 1.78% to $72.31 and WTI shed 2% to $68.54.(10) ⛽
• 🌟 Spot gold sparkled brighter though, up 0.4% to $2,654.03 per ounce, as modest U.S. private payrolls data and Fed Chair Jerome Powell’s remarks set the stage for Friday’s job report.(11) ✨

💬Quote of the Day

"Bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream - this momentum is fuelled by institutional adoption, advancements in tokenisation and payments, and a clearer regulatory path.""— Mike Novogratz, CEO, Galaxy Digital

amana.app

 Source:(1) Sky News, (2) (9) CNBC, (3) Moomoo, (4) (5) (10) (11) Reuters, (6) (7) (8) Zawya