Crypto & forex expert with 7+ years experience, MSc in Info Systems, advisor at Iktifa, and content creator with 350K+ followers in the Arabic-speaking world.
Bitcoin gained around 7% in September, outperforming both traditional assets. Meanwhile, the S&P 500 remained nearly flat, while gold dropped more than 6%, according to Santiment.
🚨 Sovereign Wealth Funds Are Selling Gold to Buy Bitcoin
Bitwise Head of Research Ryan Rasmussen says major institutions are increasingly holding Bitcoin alongside gold as a hedge against currency debasement.
🔹 Bitwise’s first institutional survey found that none of the 15 major institutions interviewed sold their crypto holdings as Bitcoin fell from around $125K to $60K.
🔹 Several institutions actually bought more during the decline.
🔹 One sovereign wealth fund revealed it was funding its crypto allocation by selling foreign exchange and gold reserves.
White House crypto adviser Patrick Witt says major banks opposed the bill over concerns that stablecoins could drain their deposits. He also said Trump was willing to place his crypto assets in a blind trust to address ethics concerns.
Starting December 6, U.S. stock markets are set to trade 23 hours a day, 5 days a week, from Sunday evening through Friday evening, with a one-hour daily maintenance break.
Nasdaq and NYSE Arca are preparing for extended trading hours, while the regular 9:30 AM–4:00 PM session remains unchanged.
⚠️ Extended hours could bring thinner liquidity, wider spreads, and higher volatility, with 24/7 trading potentially coming later.