Stocks rise, dollar dips, gold surges as possible US government shutdown looms

Global stocks rose on Monday while the dollar retreated as investors prepared for a possible shutdown of the U.S. government, which could delay publication of the September payrolls report and a raft of other key data due this week.

Gold roared to another high, powered by the dip in the dollar and by investor concerns about the possible ramifications of a U.S. government shutdown.

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Bitcoin bulls are back: Here’s what is needed for a rally to $120K

Bitcoin opened the week with a strong rally above $114,000, and these three developments could send BTC price back to its monthly range highs

  • Clearer digital asset regulation, highlighted by this week’s high-profile SEC–CFTC roundtable, could strengthen investor confidence.
  • A temporary resolution of the looming US government shutdown may ease risk aversion and boost Bitcoin price.
  • Labor market data and Strategic Bitcoin Reserve expectations could fuel renewed momentum toward the $120,000 level.
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UN: Experiment With Pension Funds Proves Blockchain as ‘Ultimate’ Identity Tech

The United Nations’ pension fund tried blockchain technology to back up a “digital certificate of existence” that vastly improved its old, paper-based system.

  • The United Nations adopted blockchain technology to improve its identification system in its global pension program, and its successes were documented in a white paper this week.
  • The UN was so happy with the improvements that it’s seeking to expand the blockchain use throughout its system and share it with other international organizations, the paper said.
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Bitcoin Falls Below $111K, Crypto Stocks Plunge as GDP Revision Dampens Rate Cut Odds

The U.S. economy grew 3.8% in the second quarter, much higher than previously reported, sending yields higher and risk assets lower.

  • Crypto prices added to losses as strong U.S. economic data impacted market expectations for Federal Reserve rate cuts.
  • Bitcoin dropped below $111,000, its lowest since early September, while ETH led far steeper declines in the altcoin sector.
  • Crypto-related stocks, including MSTR, COIN, DATs and miners, suffered sharp losses.
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