Bitcoin critic and economist Paul Krugman stated in a blog post that the recent drop in Bitcoin's (BTC) price was not a coincidence, but rather related to the declining poll numbers of pro-cryptocurrency US President Trump. In his Substack article, "The Trump Trade is Unraveling," Krugman wrote that Trump's plummeting poll numbers negatively impacted Bitcoin's price. He argues that Trump's promises to support the digital asset industry and his push for pro-cryptocurrency policies have effectively made Bitcoin a bet on "Trumpism." He adds that President Trump's significantly diminished power has weakened his efforts to promote cryptocurrencies, thus affecting Bitcoin's price. Krugman has long been critical of Bitcoin, arguing that it is economically useless, neither a medium of payment nor a hedge against inflation, behaving more like a more volatile tech stock. (Decrypt)

The current US economy is caught in a policy trap woven together by high tariffs, misallocation of AI resources, high deficit stimulus, and energy sanctions.

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has released new guidelines that could accelerate the approval process for cryptocurrency exchange-traded funds (ETFs). These updates come after a prolonged government shutdown, which resulted in a backlog of over 900 pending registration filings. The SEC has issued technical guidance outlining how issuers can advance ETF applications under Section 8(a) and Rule 461 of the Securities Act of 1933. Key changes in the new guidelines that could expedite the approval process include the SEC's approval on September 17, 2025, of universal listing standards for commodity trust shares on Nasdaq, Cboe BZX Exchange, and the New York Stock Exchange Arca. This eliminates the need for each eligible crypto exchange-traded product (ETP) to obtain separate approval under Section 19(b). For filings submitted during the government shutdown, the guidelines confirm that registration statements without deferral clauses will automatically become effective after 20 days under Section 8(a). The new SEC instructions allow issuers to choose automatic effectiveness or formally request accelerated effectiveness under Rule 461 for quicker listing.

According to Odaily, Deutsche Bank forecasts that gold prices could near $5,000 per ounce by 2026 and surpass this psychological threshold in 2027. Analyst Michael Hsueh notes that after market positions are cleared, central banks' demand for gold will persist, coupled with the re-entry of exchange-traded funds (ETFs), potentially driving gold prices to $4,950 per ounce in 2026. In a report released on Wednesday, Hsueh raised the average gold price forecast for next year from $4,000 to $4,450 per ounce. For 2027, he set a target of $5,150 per ounce. Despite gold prices having fallen about 10% from their October peak, they have since recovered half of the lost ground. Hsueh observes that "gold is breaking historical patterns," with price volatility in 2025 reaching its highest level since 1980. Concerns over inflation, currency depreciation, and the global debt spiral have historically driven gold prices to new highs. Hsueh emphasizes that the current strong performance of gold is not solely due to the depreciation of the U.S. dollar, making it particularly noteworthy. He expects global central banks' "official" and "rigid" demand to continue pushing gold prices higher in 2026. In the third quarter, central bank gold purchases reached 220 tons, the third-highest on record, significantly surpassing second-quarter figures despite already high gold prices. He cites a central bank manager's view that gold is the "ultimate safeguard against tail-end risks of black swans." After four consecutive years of outflows, gold ETFs returned to net inflows in 2025. Hsueh deduces from the weak daily fluctuations in current net buying and selling that the recent profit-taking wave may have subsided. He believes the support level at $3,900 per ounce will remain solid. Hsueh notes a causal relationship in gold ETF fund flows, where price direction determines fund movement, and highlights that the beginning of the year is typically the most active phase for gold's seasonal performance. Historical data over the past 20 and 30 years shows that gold generally experiences positive month-on-month growth in January and February. Finally, based on data from the first nine months, Hsueh estimates that global mined gold production will reach 3,693 tons in 2025, indicating a limited supply response to high prices. His model predicts next year's supply at 3,715 tons, suggesting that demand is likely to continue outpacing supply.

Deutsche Bank predicts that gold prices could approach $5,000 per ounce in 2026 and break through this key psychological level in 2027. Analyst Michael Hsueh points out that after the market completes its position clearing, central bank demand for gold will continue, coupled with the re-entry of exchange-traded funds (ETFs), and he expects gold prices to climb to a high of $4,950 per ounce in 2026. In a report released Wednesday, Hsueh raised his average gold price forecast for next year from $4,000 to $4,450 per ounce. For 2027, he gave a target of $5,150 per ounce. Although gold prices fell by about 10% from their October peak, they have now recovered half of that loss. The analyst observes that "gold is breaking historical patterns"—price volatility in 2025 is expected to be the highest since 1980. At the time, persistent market concerns about inflation, fiat currency devaluation, and the global debt spiral had driven gold prices to record highs. He emphasized that the current outstanding performance of gold prices is not solely due to the depreciation of the US dollar, making it all the more remarkable. Michael expects that in 2026, both official and rigid demand from global central banks will continue to push up gold prices. Central bank gold purchases reached 220 tons in the third quarter, the third highest on record, significantly exceeding the second quarter's figures despite already high gold prices. He cited a central bank official's view that gold is the "ultimate safeguard against the tail-end risk of black swan events." After four consecutive years of outflows, gold ETFs returned to net inflows in 2025. Michael judged from the slight daily fluctuations in current net buying and selling that the recent wave of profit-taking may have subsided. He believes the support level of $3,900 per ounce will remain firm. Michael observed a certain causal pattern in gold ETF fund flows (price direction determines fund inflows and outflows), while also pointing out that the beginning of the year is usually the period with the most positive seasonal performance for gold. Retrospective data from the past 20 and 30 years shows that gold prices generally show positive month-on-month growth in January and February. Finally, based on data from the first nine months, Michael estimates that total mined gold production in 2025 will reach 3,693 tons, a supply response that appears extremely limited in the face of high prices. His model projects a supply of 3,715 tons for next year, implying that demand is likely to continue to outpace supply. (Jinshi)

JPMorgan economists have revised their forecasts, now believing the Federal Reserve will begin cutting interest rates in December, reversing the bank's assessment a week earlier that policymakers would postpone rate cuts until January. A research team led by the bank's chief U.S. economist, Michael Feroli, said on Wednesday that statements from several key Fed officials, particularly New York Fed President Williams, supporting recent rate cuts prompted them to reassess the situation. Following the delayed release of the September jobs report last week, JPMorgan had initially predicted that interest rates would remain unchanged in December. Now, JPMorgan expects the Fed to implement two 25-basis-point rate cuts, one in December and one in January. "We are re-locking our final rate cut timing to January," Feroli wrote in a note to clients. "While the outcome of the next FOMC meeting remains uncertain, we believe the latest round of statements from Fed officials has tipped the scales in favor of a December rate cut." (Jinshi)

The U.S. Securities and Exchange Commission (SEC) has issued new guidance that could expedite the approval timeline for crypto exchange-traded funds (ETFs). These updates come after a prolonged government shutdown that resulted in a backlog of over 900 registration filings. The SEC issued technical guidance outlining how issuers can proceed with ETF applications under Sections 8(a) and 461 of the Securities Act of 1933. Key changes that could accelerate the approval process include: the SEC's approval on September 17, 2025, of a common listing standard for commodity trust shares on Nasdaq, Cboe BZX Exchange, and NYSE Arca. This eliminates the need for each eligible crypto ETP to receive separate Section 19(b) approval. For filings submitted during the government shutdown, the guidance confirms that registration statements without extension provisions will automatically become effective 20 days later under Section 8(a). The new SEC directive allows issuers to choose automatic implementation or to formally request expedited implementation under Rule 461 for a faster listing. (cointelegraph)

The market is not in a place to recover as quickly as many investors might want, but at the same time, there is certainly a lot of hope. source: https://u.today/crypto-market-prediction-no-xrp-is-not-going-back-to-3-ethereums-eth-time-to-rocket-did-bitcoin-btc

Despite the near term uncertainty, the market expected $80k support to hold. source: https://ambcrypto.com/analysts-warning-bitcoin-unlikely-to-have-santa-rally-in-2025/

Huma Finance announced on its X platform that its Q2 airdrop tracking is now live, allowing users to check the number of tokens airdropped. More information will be released soon.

Conor McGregor’s return to social media lasted for a few hours before he found a familiar target. The former UFC double-champ resurfaced on Wednesday and immediately went after longtime nemesis Khabib Nurmagomedov. However, this time he accused the retired star of running an NFT grift built on Dagestani culture and the legacy of his late […] source: https://www.cryptopolitan.com/mcgregor-slams-khabibs-4-4m-nft-drop-as-a-scam/

Jinse Finance launches its cryptocurrency and blockchain industry daily news report, "Jinse 8 AM," issue 2891, providing you with the latest and fastest news on the digital currency and blockchain industry.

The highly anticipated Layer 1 public chain Monad's token MON has officially launched, and its price once fell below the cost price for public offering users.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

Currently, there are only three truly profitable areas in the crypto payment industry: payment gateways, compliance, and high-risk services. Other areas are essentially unprofitable.

An open, multi-entity, reputation-weighted, challenge-incentivized, and self-evolving truth market may be the true future form of Oracle.

This reflects the growing global pressure Binance faces, and the fact that even after Changpeng Zhao was pardoned, his regulatory violations continue to plague him.

Saudi Aramco says the 200-qubit computer, manufactured by the French neutral atom quantum computing company Pasqal, has been installed at its own Dhahran data center, which is designed for industrial applications such as energy modeling and materials research.

Recommended reading tonight: 1. Lachy Groom, who was robbed of $11 million in crypto assets during a home invasion, is more than just Altman's ex-boyfriend; 2. Four cutting-edge crypto sectors worth investing in in 2026; 3. 2025 Q3 Crypto Venture Capital Report: Fund Flows and Trend Analysis;

The NPM community has once again experienced a large-scale NPM package poisoning incident, which is highly related to the Shai-Hulud attack in September 2025.