This week’s spotlight shifted to a very different macro backdrop. Bitcoin has staged an impressive comeback, reclaiming the psychologically important $120,000 level after months of consolidation. The dollar continues its weakening trend, gold has surged to fresh records, and equities are breaking into new highs on AI optimism.

As Q4 begins, markets appear to be leaning into a “goldilocks” setup, with investors hedging across multiple assets rather than betting on a single narrative.

Here’s what we’ll cover today:

Let’s dive in 👇

Bitcoin is staging an impressive comeback, reclaiming the psychologically important $120,000 level after spending much of late summer and early fall in consolidation. This resurgence aligns with a broader risk-on environment and growing institutional adoption of digital assets as diversification tools. A decisive break through current resistance could mark the start of another leg higher in the ongoing bull market. Check our weekend trade scenarios and in-depth analysis below.

The U.S. dollar has continued its pronounced weakening trend in 2025, down more than 8% year-to-date on the Bloomberg Dollar Spot Index, a thesis we have consistently held and that has played out strongly. While the dollar has steadied somewhat in recent months around the 1,200 level, it remains well below January highs and still faces pressure from shifting monetary policy expectations.

Gold has surged to record highs, briefly entering overbought territory before pulling back slightly. The 14-day RSI is well above 70, suggesting a pause or consolidation may be due after the metal’s sharp rally from the $2,536 low last year. Dollar weakness, geopolitical uncertainty, and central bank accumulation continue to provide strong tailwinds, though near-term cooling would be healthy given stretched technicals.

The S&P 500 has also pushed into fresh record territory, fueled by sustained optimism over artificial intelligence and its transformative impact across industries. After briefly dipping below 5,000 earlier in the year, the index has staged a relentless climb past 6,700, underlining the strength of U.S. equities despite macro uncertainties.

As Q4 2025 begins, markets appear to be pricing in a “goldilocks” setup: growth remains strong enough to support risk assets, while currency concerns drive flows into safe havens like gold and bitcoin. The concurrent strength in equities, precious metals, and crypto shows investors are hedging across multiple scenarios rather than committing to a single narrative.

We’re now entering the crypto section, where we break down Bitcoin, Ethereum, and Solana in detail. Inside you’ll find technical and fundamental insights, plus long and short trade setups to position smartly for the weekend.