In the early trading of the European market on Monday (October 7), the US dollar index fluctuated at 102.48, gold rose sharply in the short term to $2,651, and Bitcoin stabilized at $65,000, waiting for HBO to release a new documentary later this week to reveal the century-old mystery of "Father of Bitcoin" Satoshi Nakamoto. The situation in the Middle East escalated, Israel considered retaliating against the 200 missile attack, Iran suspended all flights, and Hamas launched a new round of bombing
Iran temporarily suspends all flights as Hamas launches new round of bombing
Iran briefly grounded all flights on Sunday in an apparent bid to guard against Israeli retaliation for last week's missile attack. Iran's Mehr news agency quoted a spokesman for Iran's Civil Aviation Organization as saying that flights were canceled at all Iranian airports from 9 p.m. local time on Sunday to 6 a.m. on Monday.
A notice to pilots (NOTAM) from Iranian authorities confirmed the decision to close the airport, but made exceptions for "emergency flights, ferry flights and state aircraft."
Another state-run media outlet, the Islamic Republic News Agency (IRNA), said the border closure was due to "restrictions on movement," possibly related to an expected Israeli counterattack following last week's Iranian ballistic missile attack. However, state media later reported that flight restrictions had been lifted after ensuring safety conditions.
In the attack last Tuesday, Iran launched about 200 ballistic missiles at Israel, saying it targeted three air force bases. Although Iran praised the attack as a great success and the Israel Defense Forces confirmed that two bases were hit in the attack, the Israeli military also said that the air force's combat capability was not damaged in any way.
The Israeli military said Monday that projectiles fired from Gaza triggered sirens in central Tel Aviv as Israel marked the first anniversary of the Oct. 7 attack by Hamas, AP News reported.
There were no immediate reports of damage or casualties, and the sirens sounded as Israelis marked the anniversary of the deadliest attack in the country's history, which began a year ago with rockets fired from Gaza.
Separately, Israel struck two makeshift sites used by Hamas-controlled police at a hospital in central Gaza, wounding a journalist. There were no police officers at the scene when the attack took place Monday morning.
According to the Times of Israel (TOI), a new explosion occurred near the Israeli Embassy in Denmark.
"Hawkish" non-farm data suppresses gold and the dollar soars to a 7-week high
Gold has struggled to gain traction as strong U.S. labor market data dampened expectations for aggressive easing by the Federal Reserve.
The U.S. Bureau of Labor Statistics recently reported that "the U.S. economy added 254,000 jobs in September, significantly exceeding market forecasts for an increase of 170,000."
In addition, the unemployment rate unexpectedly fell to 4.1%, reinforcing the resilience of the labor market.
The data prompted the Federal Reserve to reassess its interest rate policy.
The CME Group’s Fed Watch tool currently shows a 95% chance that the Fed will keep interest rates unchanged at its next meeting, a sharp drop from previous expectations of a rate cut.
As a result, the U.S. dollar surged to a seven-week high, making gold less attractive to investors.
In addition to strong U.S. economic data, optimism over continued stimulus measures in China also weighed on gold. The People's Bank of China (China's central bank) maintained an accommodative monetary policy stance aimed at supporting economic growth.
This eased concerns that China was sliding into a recession and fueled a more optimistic outlook for the market.
"As concerns about a global economic slowdown ease, investors are favoring riskier assets, which is putting further pressure on non-yielding assets such as gold," said senior analysts at UBS.
The mystery of Satoshi Nakamoto's origin is said to be solved. HBO documentary will be broadcast this week
A new HBO documentary titled “Money Electric: The Bitcoin Mystery,” set to air on Tuesday at 9 p.m. ET, features producers claiming to have cracked the secrets of bitcoin’s anonymous creator, Satoshi Nakamoto, Politico reported this week.
In an email, a publicist promoting the film claimed that the film would "convincingly prove who Satoshi is," but did not claim to have any proof or new evidence of Nakamoto's true identity. Interest in the identity of Nakamoto has grown, with the anonymous person or group believed to control 1.1 million bitcoins, worth about $66 billion at current prices.
Data from Polymarket, a large cryptocurrency betting platform, shows that Len Sassaman, a cypherpunk who died in 2011, is most likely to be named Satoshi Nakamoto in the HBO documentary, attracting 36% of the bets.
Bitcoin Technical Analysis
FXStreet analyst Manish Chhetri said that the price of Bitcoin retested and found support near the 200-day exponential moving average (EMA) at around $60,000 on October 2. It then rose 3.5% in the next four days, breaking through the resistance level of $62,125. As of Monday, the trading price exceeded $63,600.
If $62,125 holds as support, Bitcoin could extend its gains and retest its psychological level of $66,000.
The relative strength index (RSI) on the daily chart is trading at 56, which is above the neutral level of 50, suggesting that bulls are in control of the momentum.
However, if there is a break below the $62,125 level, Bitcoin could decline and retest its 200-day EMA level at $60,000.
