???? Bitcoin Hits $81,000 and the Fast Lane!

Hala,

??? Saudi Arabia’s Al-Jawf just got its first snowfall!(1) ?? Yes, snow in the desert — climate change is serving us bizarre weather plots. ? If the desert’s getting chilly, maybe it's time we all heat up our climate action?! ?? #JustSayin’

amana’s Take

• EUR/USD Falls as Dollar Strengthens Amid German Political Turmoil: The EUR/USD pair is facing continued downward pressure due to a strengthening U.S. dollar and political uncertainty in Germany after Chancellor Olaf Scholz’s decision to dissolve the coalition government. The dollar has gained traction as markets anticipate President-elect Trump’s plans for higher import tariffs and reduced corporate taxes, which could drive inflation and lead to a more aggressive Federal Reserve policy. In Monday’s Asian session, EUR/USD trades near 1.0720, as concerns mount over how higher U.S. tariffs could impact Eurozone exports and economic growth.

Stock Market Update

???? U.S stocks threw a post-election party on Friday! The Dow popped 0.59% to 43,988.99, briefly peeking over 44,000, the S&P 500 rose 0.38% to 5,995.54 after a quick spin above 6,000, and the Nasdaq 100 joined the mix, up 0.07% to 21,117.18.(2) Celebration mode: on! ??↗?

???? Meanwhile, Gulf stocks wrapped up mixed: Saudi slipped 0.2% to 12,103 post-oil dip, while Qatar rallied 0.7% to 10,118, fueled by banking gains.(3) ????

???? Bitcoin Hits the Crypto Fast Lane with Trump’s ‘Green Light’

Bitcoin has raced past $81,000, and this time it's turbocharged by Trump.(4) With the election of Donald Trump as U.S. president alongside crypto-friendly Congress members, cryptocurrency has taken the express route to a record high. Trump’s campaign vows to make the U.S. “the crypto capital of the planet” are driving massive market gains, and investors are hitting the gas. ????

???? Big Gains & Fast Moves:

• Bitcoin Booms: Climbed past $81,000, more than doubling from its yearly low of $38,505.
• Ether Energized: Surpassed $3,200, marking its highest price in over three months.
• Dogecoin Dances: Hitting a three-year peak, this meme coin joins the rally.
• Crypto Congress: With several pro-crypto seats won in states from Michigan to North Carolina, crypto supporters are seeing red (wave) and green ($) everywhere. ????

???? Crypto Fans Rev Up for 2024

Bitcoin isn’t the only one grabbing the spotlight. Trump’s recent launch of World Liberty Financial has also intrigued investors, with Elon Musk and Eric Trump joining the pro-crypto chorus. A crypto future feels closer than ever as Congress eyes digital-currency deregulation. With crypto backers seated in Washington and a president-elect with big blockchain ambitions, the crypto crowd is primed for an encore. Will 2024 see crypto as the headliner? Stay tuned. ????

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Closer to Home?

• ?? Talabat’s gearing up for a feast-sized IPO in Dubai, offering 3.49 billion shares (15% stake) in one of the UAE’s biggest listings of the year! Retail orders open Nov. 19, and trading starts around Dec. 10.(5) Don’t miss this dish! ??
• ?? Dubai-based supermarket operator Spinneys cooked up a 12% profit rise to AED 35M ($9.5M) in Q3, with revenue sizzling up 15% YoY to AED 701M—plus, shareholders enjoyed a cool AED 102.6M dividend treat!(6) Now, that’s a full cart. ??
• ?? Oil giant ADNOC’s subsidiary, ADNOC Gas zoomed through Q3 with a $1.24B profit, up 11% YoY, leaving analysts’ $1.19B in the dust, while revenue rose to $6.28B, fueled by price hikes.(7) Talk about hitting the gas! ???

What Else Is Trending

• ?? Tesla shares climbed 8% on Friday, driving its market cap past the $1 trillion mark! After President Donald Trump’s win, investors are buzzing, thinking Tesla’s plugged into a political power boost.(8) ??
• ??? Oil prices took a spill as traders shrugged off hurricane scares and yawned at China’s stimulus. WTI fell 2.7% to $70.38, while Brent shed 2.3% to $73.87.(9) ?
• ? Lastly, spot gold lost its shine, sliding 0.8% to $2,684.03—its steepest dive in five months—as a flexing dollar and President Trump’s win shook up the scene.(10) ??

??Quote of the Day

“Bitcoin's Trump-pump is alive and well…” – Matt Simpson, senior market analyst at City Index

amana.app

Sources: (1) NDTV, (2) (8) CNBC, (3) (4) (9) (10) Reuters, (5) (6) (7) Zawya