Crypto Morning News: Bitcoin Holds at 103K as Strong U.S. Data Lifts Mood Ahead of BoE Decision

Key Takeaways

The U.S. Supreme Court questioned Trump’s authority to impose global tariffs, stirring debate over trade powers and policy risk.
The Bank of England prepared for a close call on interest rates as inflation softened and the November budget approached.
U.S. private payrolls and services data beat expectations, lifting Wall Street and Treasury yields.
Bitcoin steadied above $103K while gold eased slightly, showing investors’ preference for risk assets over havens.

Crypto Morning News: Geopolitics & Market Sentiment

On November 6, 2025, markets showed a positive tone as stronger U.S. private payrolls and services data lifted investor confidence, while attention turned to the Bank of England’s closely balanced rate decision and new scrutiny over U.S. tariff powers.

On the diplomatic front, the U.S. Supreme Court pressed the administration over whether President Donald Trump’s use of emergency powers legally permits sweeping global tariffs without congressional approval.

The hearing marked a major test of executive authority, with justices questioning whether a 1977 law meant for national emergencies could justify such broad economic measures. A ruling against the administration could reshape U.S. trade policy and unsettle global markets already strained by tariff disputes.

On the economic front, upbeat U.S. data supported risk sentiment, as private payrolls grew by 42,000 in October, exceeding expectations, and the services sector expanded at its fastest pace in eight months.

The data lifted Treasury yields and reduced expectations for further Fed cuts this year, while stocks advanced broadly, with the S&P 500 up 0.37%, led by gains in technology and energy shares.

In Britain, Finance Minister Rachel Reeves faced calls from the CBI to raise taxes in her November 26 budget to rebuild “fiscal headroom,” even as she weighed political pressure to protect household incomes.

Meanwhile, the Bank of England’s meeting drew intense attention, with most economists expecting rates to stay at 4.0% but a growing minority betting on a cut to 3.75% as inflation eases and the economy slows.

In corporate news, optimism returned to Wall Street after a volatile start to the week, as Advanced Micro Devices (AMD) rose after an upbeat revenue forecast.

At the same time, analysts continued to warn about overheated valuations in tech and AI names, while speculative interest surged in “quantum computing” stocks, such as Rigetti and IonQ, whose share prices have soared despite thin revenues.

In Crypto, digital assets steadied after earlier losses. Bitcoin hovered above $103,000 after briefly dipping below $100,000 earlier in the week. Ethereum and Solana went up slightly, while Bitcoin’s market dominance stayed above 60%.