???? Bitcoin's Wild Climb to $94K

Hala,

??? For all our boss ladies trading and thriving: Ariana Grande’s ‘Wicked,’ Hollywood’s newest hit, cast a 96% Rotten Tomatoes spell!(1) ????♀? Looks like the crypto market isn’t the only thing booming. ????

amana’s Take

• AI’s favorite child Nvidia poised for a blowout quarter???The company’s Q3 earnings are due (12:30 am UAE time), with Wall Street betting on EPS of $0.74 and a jaw-dropping $33.2 billion in revenue—a scorching 83% YoY growth fueled by insatiable AI demand. The Data Center segment alone is expected to double, pulling in $29 billion, while gaming revenue climbs 7% to hit $3 billion. Gross margins? A hefty 75%. Nvidia isn’t just riding the AI wave; it’s practically surfing on gold.
• Investors are hungry for updates on Nvidia’s next-generation Blackwell AI chips. While these silicon superstars promise a new leap in processing power, reports of overheating and production delays are adding some drama to the mix. The big question: can Nvidia keep its cool as competition heats up?
• Proposed tariffs on Taiwanese-made chips could rattle Nvidia’s margins and costs, with the ripple effects potentially shaking up the broader tech sector. As the year-end rally hinges on Nvidia’s performance, this earnings report might not just move markets—it could set the tone for 2024.

??? US markets saw mixed moves as Wall Street brushed off Russia-Ukraine tensions. The Dow dipped -0.28% to close at 43,268.94, while the S&P 500 gained 0.4%, finishing at 5,916.98. Leading the charge, the Nasdaq 100 rose 0.71% to 20,684.59, fueled by a surge in Nvidia shares.(2) ????

??? Meanwhile, most Gulf markets closed higher on Tuesday. Dubai's DFM General Index rose 0.4% to 4,731.72, while Abu Dhabi's ADX General Index increased 0.4% to 9,426.42.(3) ????

???? Bitcoin’s Wild Ride to $94K!

Bitcoin is climbing the steep geopolitical staircase once again, reaching new heights as tensions between Ukraine and Russia rattle global markets. Investors flocked to the crypto king like moths to a flame, sending its value soaring to an all-time high of $94,068.75 before settling slightly lower at $92,616.(4) The crypto rollercoaster comes with a plot twist: while stocks initially sold off, Bitcoin danced upward, proving it’s the drama magnet of the financial world. ???

????? Crypto Climb Notes:

• New Heights: Bitcoin hit $94,068.75 before catching its breath.
• Stock Ties: MicroStrategy, the Bitcoin proxy, spiked 11.9%.
• Monthly Gains: Up a staggering 31% for November so far.
• Geopolitical Hedge: Investors see it as “non-confiscatable gold.”
• Volatile Darling: Love it or hate it, Bitcoin’s turning heads faster than a Wall Street rumor mill. ???

???? Safe Haven or Risky Gamble?

Dubbed a “chameleon” by Matt Sigel of VanEck, Bitcoin’s correlations with other markets are as unpredictable as its price. From banking crises to geopolitical unrest, the digital asset has proven to be both a hedge and a heart-stopper. But not everyone’s convinced: Citigroup remains skeptical about its store-of-value properties, reminding us that volatility is part of the crypto charm—or curse. ?????

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Closer to Home?

• ?? Dubai Financial Market (DFM) has partnered with Mbank to launch IPO Upgrade, a feature offering up to 5x leverage for IPO subscriptions. (5) Looks like investors are about to get a little extra magic for their trades! ?
• ?? Delivery Hero aims to raise $1.52 billion through Talabat’s Dubai IPO, which sold out faster than a pizza delivery—minutes after opening for subscriptions.(6) ??
• ?? DMCC’s latest report forecasts the UAE becoming a major hub for gold trade, proving once again that everything here really does shine.(7) ??

What Else Is Trending

• ?? U.S. single-family homebuilding dropped in October, hit by hurricanes in the South, while higher mortgage rates kept recovery prospects muted. (8) Looks like the housing market is weathering more than just storms. ???
• ?? Canada’s inflation rate jumped back to 2% in October, surprising markets and cooling big rate-cut bets. Turns out gas prices didn’t do enough heavy lifting this time. (9) ?
• ?? Netflix shares hit an all-time high after revealing that the Tyson-Paul fight drew a knockout 108 million viewers—proving drama isn’t just for the movies! (10) ??

??Quote of the Day

“Bitcoin is a chameleon. Its correlations change over time; it’s hard to predict what it’s going to be correlated with over the short term.” – Matt Sigel, head of digital assets research at VanEck,?

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amana.app

Sources::(1) Screen Rant, (2) (4) CNBC, (3) (8) (9) Reuters, (5) (7) Zawya, (6) The National, (10) Market Watch