Headline: Markets Mixed: Bitcoin Slips Below $91K as Oil Risks Rise and Stocks Turn Cautious
Global markets opened on a cautious note as Bitcoin fell below $91,000 for the first time in six months, while investors weighed cooling expectations for a December Federal Reserve rate cut and the broader implications of AI-driven spending. Sentiment in digital assets remained fragile despite speculative calls for an Ethereum “supercycle,” with some traders watching for a potential near‑term bottom as select miners and firms increase ETH exposure.
In currencies and commodities, a major Wall Street bank sees the euro strengthening to around $1.23 in early 2026 on a softer US dollar before easing back to $1.16 by year-end as the European Central Bank trims rates toward 1.5% and Germany’s fiscal support underwhelms. Energy markets flashed divergent signals: Brent crude could break above $85 a barrel if Russian exports decline sharply—a risk some view as underpriced—while natural gas futures fell nearly 5% on warmer weather forecasts, robust production, and expectations for ample inventories next year.
US equities were choppy as the S&P 500 tested its 50-day moving average and market breadth weakened, highlighting near-term correction risk despite hopes for a year-end rally. Stocks eased ahead of a key AI bellwether’s earnings, even as Alphabet gained about 3% on renewed institutional interest. Traders are focused on consumer spending resilience and the AI outlook to gauge whether risk assets can stabilize into the final stretch of the year.
Key Points – Bitcoin dropped below $91,000 for the first time in six months as rate-cut hopes faded. – Some strategists tout an Ethereum “supercycle,” with select firms adding to ETH exposure. – Forecasts point to EUR/USD peaking near $1.23 in early 2026, then easing to $1.16 by year-end as ECB cuts deepen. – Brent crude could climb above $85 if Russian exports fall, tightening inventories faster than expected. – Natural gas futures slid nearly 5% on warm weather, high output, and comfortable storage outlooks. – The S&P 500 tested its 50-day moving average as investors awaited major AI-related earnings and consumer data.
