Happy Wednesday!

Gold is making ATH after ATH while Bitcoin…does nothing. What is driving this painful underperformance?

Scott Bessent said China is up against the entire world in its trade war with the U.S. — but Bitcoin seems unsure of that and is down to $111,000 in the comments.

Plus, if you’re torn between doubling down or cashing out, check out tonight’s private live briefing to see how to turn market whipsaws into knockout gains.

TOP STORY

Gold Smashes Through $4,200 As Bitcoin Stuck At $112,000: What's Driving The Underperformance?

Gold smashed through $4,200 per ounce on Wednesday after Fed Chair Jerome Powell hinted at fresh rate cuts, while Bitcoin continues to languish around $112,000.

Gold has gained more than 25% since mid-August, aiming for its ninth straight weekly green close.

Fed Chair Powell told the National Association for Business Economics on Tuesday that slowing U.S. hiring poses an increasing threat to growth, a remark traders interpreted as support for two more cuts this year.

Falling real yields and geopolitical strains have amplified the move.

But why does Bitcoin keep underperforming?

Read the full scoop here.

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Bitcoin, Ethereum, Dogecoin, XRP are consolidating again as cryptocurrencies attempt to make a recovery after last Friday: here’s what’s driving the market today.

Shiba Inu has burned another 43 million tokens. Can that finally help to get SHIB going?

Sam Bankman-Fried said that Joe Biden’s ‘anti-crypto SEC came after him’ — and now he’s looking for a pardon from President Trump.

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FINTECH FOCUS

Scott Bessent Says It's 'China Versus The World'—Then Why's Bitcoin Down To $111,000?

U.S. Treasury Secretary Scott Bessent on Wednesday said that the recent stock market decline will not influence Washington’s China policy, while Bitcoin languishes around $111,000 as traders hope for a potential October rebound.

Speaking during IMF World Bank Week, Bessent said investors were overly focused on the latest market pullback and trade friction with Beijing. 

“The market lately has been more concerned about trade than the government shutdown,” he noted, adding that recent rare-earth export restrictions from China were part of a broader geopolitical play.

Read the full scoop here.

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