Headline: Crypto Slide Intensifies as Tariffs Pressure Holiday Spending; Japan Preps ¥17T Stimulus
Key Takeaways
Introduction: Risk-off sentiment is rippling through global markets, weighing on digital assets and retail spending just as Asia readies a wave of macro updates. Bitcoin’s pullback deepened while tariff costs threaten Black Friday value, and Japan moves toward a sizable fiscal package to support households and strategic investment.
Bitcoin has retreated more than 30% from recent highs, slipping a further 1.6% to around $93,684 as institutional participation thins and retail traders turn cautious. Volatility remains elevated across the crypto market. XRP fell about 4.3%, finding buyers near $2.22; a stronger XRP/BTC backdrop has bulls watching for a potential push toward $2.75 if momentum improves.
Beyond crypto, higher tariffs are lifting seasonal costs, with holiday décor prices up more than 10%. The added burden, estimated at roughly $29 billion for consumers, could compress Black Friday discounts and raise the risk of shortages in popular seasonal items.
In macro developments, Japan is preparing a stimulus package exceeding ¥17 trillion to counter rising living costs and accelerate strategic investment, with cabinet approval expected Friday. Regional data will be in focus as well: preliminary Q3 GDP for Japan is expected to show contraction, while New Zealand’s October Food Price Index fell 0.3% month over month, reinforcing signs of easing food inflation.
Key Points: – Bitcoin drops over 30% from peak, trading near $93,684 amid risk-off sentiment and thinner institutional flows. – XRP declines about 4.3%, buyers emerge near $2.22; bulls eye $2.75 if XRP/BTC strength persists. – Tariffs push holiday décor prices up 10%+, adding an estimated $29 billion to consumer costs and pressuring Black Friday deals. – Japan readies a stimulus package exceeding ¥17 trillion to ease living costs and boost strategic investment. – Japan’s preliminary Q3 GDP is expected to contract, keeping Asia’s economic outlook in focus. – New Zealand Food Price Index falls 0.3% m/m in October, hinting at moderating food inflation.
