FTSE 100 higher but Bitcoin drops back

Chris Beauchamp IG

Stocks continue to be supported by expectations of a Fed cut next week, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 pushes higher

After a shaky start to the day, the FTSE 100 has clocked up a modest gain for the day, as it pushes back towards the top end of the week’s range. It has not exactly been a roaring bullish week for the index, instead consolidating as heavyweight news dries up, but hopes of a break higher remain strong. The focus remains firmly on next week’s Fed decision, with a cut now viewed as all but a certainty.

Bitcoin eases off

Bitcoin has edged lower, having touched $94,000 overnight. Price action continues to look supportive, and the macro backdrop continues to point towards more inflows as asset managers broaden their offering. While this was nothing like the selloffs of years past, it was uncomfortable enough for many. Next week’s Fed decision could be the catalyst that unleashes further buying momentum, putting the price on course for $100,000 again.

Author

Chris Beauchamp

EUR/USD looks firm well above 1.1600

EUR/USD picked up a bid on Monday, pushing up toward the 1.1650 area in response to fresh weakness around the US Dollar, all following President Trump threats to escalate tariffs on eight European countries opposing his proposal to take Greenland. With US stock and bond markets closed for Martin Luther King Jr. Day, liquidity is likely to be thin.

GBP/USD reclaims 1.3400 and above

GBP/USD found its footing after a soft start to the week, edging slightly above 1.3400 on Monday. The Btitish Pound benefits from a weaker Greenback, as markets react to President Trump’s latest tariff threats against Europe over Greenland.

Gold targets $4,700 on broad USD selling

Gold attracts strong buying interest at the start of the week, surging to a fresh record high near $4,700 per troy ounce. Markets turned more cautious after US President Trump threatened tariffs on eight European countries opposing his plan to acquire Greenland, a shift that helped support the precious metal.

Dogecoin, Shiba Inu, Pepe in a freefall, echoing Bitcoin’s drop

Meme coins, such as Dogecoin, Shiba Inu, and Pepe, extend the decline from last week, with a roughly 3% drop on Monday. The meme coins trade below the crucial moving averages, aiming for the immediate support to potentially reset the momentum.

When tariffs become ammunition and capital becomes the battlefield

Markets opened the week like a risk engine hitting a pothole at speed. Equities stepped back, gold vaulted to fresh highs, Treasuries caught a bid, and the dollar, outside of havens, took on a soft bid. This was not a data-driven wobble or a valuation purge.