Summary
- Crypto roundup for Thursday highlights cautious optimism among traders despite the U.S. government shutdown and mixed data.
- Bitcoin rallies to a seven-week-high, Gold refreshes record top, even as the U.S. Dollar rebounds from a week’s low to stall a four-day losing streak.
- The market’s confidence that the policymakers will eventually agree to lift the U.S. shutdown seems to be challenging the fears from data delays.
- Growing geopolitical and trade fears also contribute to the market’s anxiety.
- Crypto headlines remain mostly positive, allowing top coins to remain firmer.
- Equities begin the day on a positive side, with S&P and Nasdaq refreshing record highs.
Crypto Roundup for Thursday: Market Turns Cautious!
Market sentiment remained mixed early Thursday in New York as concerns over upcoming U.S. data releases and economic inactivity from the government shutdown coincided with the Jewish holiday. That said, downbeat U.S. Challenger Job Cuts stalled the U.S. Dollar’s weakness at a week’s low after its four-day losing streak. Meanwhile, weaker-than-expected U.S. ADP Employment Change, a slight improvement in the ISM Manufacturing PMI, and a cautious tone of Chicago Fed President Austan Goolsbee added to the uncertain risk tone of the previous day.
Against this backdrop, Bitcoin (BTC) rises to a fresh high since August 14, up nearly 1.0% intraday to $119,800, whereas spot Gold (XAU) renews its all-time high (ATH) near $3,898. That said, the U.S. Dollar Index (DXY) bounces off a one-week low to 97.82, snapping its four-day losing streak.
The global rating agency, Fitch Ratings, reaffirmed the U.S. credit rating at AA+/Stable, noting that the government shutdown doesn’t have near-term implications for the rating.
On the political front, Trump repeated that the shutdown is a good opportunity to cut costs, saying “billions of dollars can be saved.” Other reports also indicated that the White House is preparing federal agencies for mass layoffs.
U.S. Treasury Secretary Scott Bessent told CNBC that they could see a hit to the GDP (Gross Domestic Product) from the shutdown.
The Supreme Court declined to immediately allow Trump to fire Federal Reserve Governor Lisa Cook but confirmed it will hear arguments in January.
On the geopolitical front, Ukraine is likely to use the U.S. long-range missiles to strike deep into Russian territory, damaging key energy infrastructure. Reuters cited anonymous U.S. officials to confirm that Washington will now provide Kyiv with intelligence to support such long-range strikes.
Elsewhere, the G7 (Group of Seven) vowed to increase enforcement of sanctions against Russia. In a statement, the group said it will work to phase out remaining Russian imports, including hydrocarbons, and warned of penalties for third-party countries and firms that help finance Russia’s war effort.
Crypto, Equity Update
Cryptocurrency traders experience a two-day winning streak, with major coins crossing short-term key resistances. That said, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all rose for the second consecutive day to hit weekly tops.
However, Dogecoin (DOGE), Sui (SUI), Litecoin (LTC), and Cronos (CRO) gained major attention by rising over 5.0% each.
Meanwhile, Aave (AAVE) and Avalanche (AVAX) buck the trend while posting mild losses on a day by press time.
Notably, the Bitcoin Dominance eases to 58.1%, from 58.3%, but the crypto market capitalization (market cap) rises 2.0% on the day to $4.09 trillion by press time.
Talking about major news, K33 Research rolled out a report citing a cool-down in the corporate frenzy towards the crypto reserves. The report stated that more than 200 firms adopted crypto-treasury strategies during 2025, but September saw corporate bitcoin purchases drop to their lowest pace since April.
Japanese financial giant group SBI Holdings is rumored to have faced a hack of $21 million crypto mining pool. Blockchain investigator ZachXBT states that the funds laundered through Tornado Cash and finds similarities to the North Korean state-sponsored group’s previous attacks.
Also Read: SBI Hack: North Korean Hackers Suspected of $21M Crypto Theft
Peru announced the use of Bitcoin-based blockchain technology for its national elections in 2026. The country will debut the pilot of its new digital voting system, backed by Syscoin’s blockchain, to include historically excluded groups like military staff and overseas citizens, ensuring secure, immutable, and transparent voting rights.
Read More: Peru Presidential Elections 2026 to Pioneer Blockchain Voting with Syscoin
The crypto industry’s longest-serving executive, Ripple’s CTO, David Schwartz, announced stepping down to the role of board member after 13 years. The crypto wizard will still be a strategic advisor to the firm.
More Details: Ripple’s CTO Steps Down, Shifting to Board Role After 13 Years
A Trump-backed cryptocurrency venture, World Liberty Financial Institute (WLFI), eyes rollout of crypto debit card and tokenized commodities amid alleged instability. The firm’s WLFI token struggles for the second consecutive week and backs the market’s fears.
Read More: World Liberty Financial Eyes Debit Cards, Tokenized Commodities as WLFI Battles for Stability
Some of the top crypto news are mentioned above, while more updates like this could be traced to our Coin Bytes.
Talking about the U.S. equities, Wall Street benchmarks begin Thursday with modest gains. That said, Dow Jones and S&P 500 both rise around 0.20% intraday, whereas Nasdaq jumps 0.45% as we write. Notably, the S&P 500 and Nasdaq both refreshed record highs by press time.
Recently, Tesla’s third quarter (Q3) deliveries rose to 497K versus 444K expected, and fueled Tesla Inc. stock to the highest level since December 2024.
On Wednesday, the U.S. equities began trading on a negative note, but ended with gains due to the last-hour buying. The Dow Jones Industrial Average (DJIA) posted mild gains, while the S&P 500 (SPX) rose 0.34% to hit a record high, and the NASDAQ (NQ) Composite also surged 0.42% intraday.
The healthcare stocks were top performers as U.S. President Donald Trump suggested he would negotiate pharmaceutical imports rather than impose tariffs, fueling Eli Lilly (LLY), Merck (MRK), and Pfizer (PFE) each by more than 7%. That said, Nike posted upbeat quarterly sales and rose, whereas Intel jumped after proposing a foundry collaboration with Advanced Micro Devices (AMD).
- Gold bulls keep the reins, renewing its ATH near $3,898 as we write.
- Bitcoin (BTC) jumps to a seven-week-high, up nearly 1.0% around $119,800 by press time.
- Ethereum (ETH) hits a fortnightly peak, up 1.40% intraday to $4,412 at the latest.
- U.S. Dollar Index (DXY) rebounds, taking a U-turn from the weekly low to snap a four-day losing streak with mild gains around 97.82 as we write.
- Wall Street benchmarks edge higher, after an upbeat day, with Dow Jones being defensive, but S&P 500 and Nasdaq 100 refresh record highs.
- WTI Crude Oil hits a four-month low, down 0.30% to $61.50 during a five-day losing streak.
An anxious day ahead…
As market players have largely ignored the ongoing U.S. government shutdown, expecting it to be resolved eventually, the risk assets may remain firmer. However, a Jewish holiday in the U.S. federal offices, whichever is currently running, flags the fears that Congress cannot return before Friday, delaying key data releases like Weekly jobless claims and Friday’s Nonfarm Payrolls (NFP).
This highlights the political plays surrounding the U.S. shutdown, along with other risk catalysts like developments in the Ukraine-Russia conflict, the Hamas-Israel war, and the G7’s push to tighten sanctions on Russia. Amid these plays, the market players are likely to witness consolidation in the early-day gains amid a cautious mood.
Also read: U.S. Government Shuts Down: Political Gridlock Halts Federal Operations
