Crypto Market Sentiment Rises as U.S. Stock Indexes Surge and Gold Approaches Record High

According to Blockbeats: On October 17, 4E monitoring revealed continued positive sentiment in the crypto market as major U.S. stock indexes saw gains. The S&P 500 rose by 0.47%, while the Dow Jones Industrial Average surged 0.79%, hitting a new high. The Nasdaq, largely composed of tech stocks, increased by 0.28%, with Nvidia climbing 3.13%, nearing its all-time high.In the cryptocurrency sector, Bitcoin broke the $68,000 mark for the first time since July before slightly retreating. At the time of writing, Bitcoin was up by 0.26%, trading at $67,520, while Ethereum dipped 0.15% to $2,622.On the foreign exchange front, the “Trump deal” reignited demand for the U.S. dollar, pushing the dollar index up by more than 0.2%, marking a ten-week high. Meanwhile, weaker inflation data from Europe and the UK have boosted expectations of rate cuts by the Bank of England and the European Central Bank, contributing to a decline in the pound and euro to multi-month lows.Oil prices continued to fall amid eased concerns over Middle East supply disruptions, while the growing anticipation of rate cuts from global central banks supported a rise in spot gold by more than 0.4%, bringing it closer to a record high.Expectations for central bank rate cuts are increasing, with traders now estimating a 94% chance of the U.S. Federal Reserve implementing a 25 basis point rate cut in November. Investors are also closely watching September retail sales data for further insights.Additionally, 4E, a financial trading platform covering cryptocurrencies, stocks, foreign exchange, and gold, has introduced a USDT stablecoin financial product offering an annual yield of 5.5%, providing a potential hedging option for investors amid current market volatility.