??♂??? Bitcoin Runs Out of Steam Near $100K

Hala,

???? JP Morgan CEO Jamie Dimon predicts your kids will live to 100 and work just 3.5 days a week—thanks to AI.(1) Looks like the future is all about long weekends! ??????

amana’s Take

• USD/CAD surged over 1% to 1.4178, its highest since April 2020, while USD/MXN hit a multi-month high at 20.50. The catalyst? A 25% tariff announcement on imports from Canada and Mexico by the incoming U.S. administration, rattling trade-sensitive currencies and sparking a risk-off mood.
• WTI crude prices dipped to $69 as Middle East tensions eased, dragging the oil-dependent Canadian dollar further down. For the loonie, it’s a perfect storm of trade worries and weaker commodities.
• Despite murmurs of Fed rate cuts, strong U.S. PMI data and safe-haven flows kept the dollar firmly in charge. With FOMC minutes, GDP, and Core PCE data looming, the USD is sitting comfortably in the driver’s seat for now.

Stock Market Update

???? U.S. stocks cruised uphill on Monday as President-elect Donald Trump’s Treasury Secretary pick, Scott Bessent, sparked hopes of growth without inflation headaches. The Dow rose 0.99% to a record 44,736.57, the S&P 500 gained 0.3% to 5,987.37, and the Nasdaq 100 added 0.14% to 20,804.89.(2) Wall Street seems to think Bessent’s got the Midas touch! ?↗?

???? Meanwhile, Gulf markets played tug-of-war, weighed down by slipping oil prices. Abu Dhabi was flat at 9,232, while Dubai climbed 1% to 4,768.(3) ????

??♂??? Bitcoin's Marathon Stumbles at the Finish Line!

Bitcoin’s rally sprinted like a marathon runner gunning for the $100,000 tape but collapsed inches from glory, leaving traders gasping for breath.(4) After reaching a heart-stopping $99,700 on Friday, the digital asset stumbled to $94,598 on Monday, where it caught its breath, trading at $95,039 by 1:53 a.m. in New York. Optimism about President-elect Trump’s crypto-friendly agenda seemed to overheat like an overzealous training regimen, prompting traders to reassess their pace. ??♀???

???? Highlights from Bitcoin’s Performance Track:

• Near Miss:Bitcoin almost kissed $100,000, falling short by $300.
• Liquidations: Over $60 million in bullish bets wiped out in 24 hours.
• Institutional Push: MicroStrategy flexed with a $5.4 billion Bitcoin buy.
• Market Value: The crypto world added $1 trillion since Trump’s victory.
• Sentiment: Traders see consolidation as Bitcoin catches its second wind. ???

???? Consolidation on the Horizon

While Trump’s pledge for crypto regulations and a “national Bitcoin stockpile” jazzed up Wall Street, traders like David Lawant from FalconX suggest a cooldown is likely. The marathon isn't over—it’s a water break before Bitcoin laces up for another sprint. With the digital asset market’s momentum climbing, Bitcoin’s next lap could redefine the race. ???

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Closer to Home

• ?? Global credit ratings agency Moody's gave Saudi Arabia a rating glow-up to "Aa3" from “A1” nodding to its oil-free makeover. The Kingdom’s Vision 2030 is turning pipelines into lifelines for new industries.(5) ??
• ?? With Saudi Arabia’s rapid growth, Morgan Stanley and Citigroup revealed they’re setting up their headquarters in Riyadh. The Gulf’s becoming the new financial playground—bring sunscreen!(6) ??
• ?? Oman’s OQ Base Industries’ (OQBI) IPO is blazing, with anchor investors locking in 30% of the offer. Seems like Oman’s chemical giant just lit up the Gulf IPO scene.(7) ??

What Else Is Trending

• ?? The U.S. dollar took a breather from its two-year high on Monday. Treasury markets partied over President-elect Trump’s pick of Scott Bessent for Treasury secretary, with investors betting on a tighter fiscal ship.(8) ??
• ??? Meanwhile, oil prices plunged over $2 on reports of a truce between Israel and Hezbollah. Brent dipped 2.87% to $73.01 a barrel, while WTI shed 3.23% to $68.94.(9) ?
• ? Lastly, coffee giant Starbucks’ barista schedules are in a brew of trouble after a ransomware attack on its software vendor, Blue Yonder, disrupted barista pay and time tracking. The coffee’s hot, but the back end’s running on decaf.(10) ??

??Quote of the Day

"Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative." – Nassim Nicholas Taleb, Lebanese-American essayist and mathematical statistician

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amana.app

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