Redator

A recent slashing of Ethereum from different validators has reignited the debate around staking models, with many pointing to Cardano’s more resilient structure as a key differentiator. While Ethereum’s system penalizes validators for downtime or misbehavior, Cardano’s staking approach avoids such risks, offering delegators security without the fear of losing funds. Why Simplicity And Resilience Are Cardano’s Key Advantages On September 10, a slashing of 11.7 ETH from 39 Ethereum validators highlights the advantages of Cardano’s staking structure. Crypto analyst Dori has highlighted on X the fundamental differences in staking requirements and risks between the two networks. On Ethereum, it is structurally impossible to stake 0.1 ETH directly on ETH, but an individual must stake a minimum of 32 ETH and operate a validator node themselves. However, platforms have been built on Ethereum to allow staking with as little as 0.1 ETH, and liquid tokens are issued. The critical difference is that, due to the slashing mechanism, Ethereum’s structure carries the risk of a cascading collapse. This has given rise to platforms like Ankr and Lido Finance, which pool ETH from many users, run validators, and issue liquid staking tokens such as ankrETH and stETH to solve the problem of locked-up funds. In this incident, an operational mistake by the operators of 39 validators led to a slashing penalty of 11.7 ETH, which is worth approximately $52,000. If a larger slashing event were to occur, it could lead to the de-pegging of the liquid staking tokens, potentially triggering a cascading collapse as DeFi ecosystem protocols built upon them. On Ethereum, iquid staking platforms were developed to remove obstacles to staking, and liquid tokens were distributed to address the issue of lock-ups. In contrast, Cardana’s staking model allows anyone to stake as little as 10 ADA in a stake pool without worrying about slashing. There are no lock-up periods, and a user’s staked funds are never at risk of being lost, even if their chosen stake pool misbehaves. Fundamentally Different Approaches To Staking Cardanians (CRDN) also stated that a critical flaw in Ethereum’s staking model has been exposed, highlighting the fundamental advantages of Cardano’s design. The data shows that the Ethereum staking exit queue has hit an all-time high, forcing users who unstake their ETH to wait an estimated 46 days to get their funds back. However, Cardano’s ADA staking model offers a fundamentally different experience, with liquid staking and no entry or exit queues. When a user stakes their ADA, the funds remain in their wallet and are always available for use or transfer, and earn rewards without being locked up. “The design is fundamentally better,” the expert noted.

After a summer marked by cautious investor sentiment and shifting priorities across the sector, new figures show that capital flows into crypto are starting to cool. Overall funding for crypto protocols was down 30% in August, sliding to nearly $2 billion from July’s $2.67 billion, according to DeFiLlama. Funding Dips Yet Quarter Gains Based on reports, third-quarter totals reached $4.57 billion in just two months, pushing past Q2’s $4.54 billion. That shows money is still moving, even if monthly flows look cooler compared with past peaks. At the start of 2022, monthly raises hit about $7 billion. Numbers have come down since then, but 2025 has shown several big spikes that kept investors alert. Investor Focus Shifts To Existing Projects According to market analyst Daan Crypto Trades, funding has moved away from nonstop new-chain launches toward treasuries and teams building on existing projects. He points out that new launches are hitting lower valuations, which has helped keep price moves quieter after listings. Investments Spread Beyond DeFi DeFi still drew attention in August, with money flowing into infrastructure and trading platforms. But other sectors also saw notable rounds. Stablecoin infrastructure was busy too, with Rain’s raise at $58 million. Payment solutions also attracted funding; OrangeX took $20 million in a Series B. South Korea Opens VC Doors Following approval by the State Council and cabinet, South Korea’s Ministry of SMEs and Startups said it lifted a long-standing VC funding ban on September 16. The amendment to the Enforcement Decree removes the label that had kept exchanges and brokerages classified as “restricted venture businesses” since October 2018. Recent laws, including the Virtual Asset User Protection Act passed in July 2025, introduced deposit safeguards, record-keeping rules, and bans on unfair trading. Those steps helped convince regulators to reopen the market. Government Support Could Boost Local Firms The decision to lift South Korea’s long-standing restrictions on crypto funding came with a clear message from policymakers. Officials said the move aims to create a more transparent and responsible ecosystem, and to help venture capital flow to companies focused on blockchain and cryptography. If VCs return, local crypto firms may find new sources of growth capital, while investors look for projects that can deliver longer-term value. Featured image from Unsplash, chart from TradingView

BHP Xplor, an accelerator program introduced by the miner in 2022 in pursuit of unlocking critical minerals, has officially opened applications for the 2026 cohort. Early-stage explorers are invited to apply for its next intake — the program is looking for ambitious teams and individuals dedicated to uncovering new sources of critical minerals essential for a sustainable future, the company said. The BHP Xplor program is designed to accelerate participants’ exploration opportunities while fostering long-term connections with BHP. Participants can receive up to $500,000 in equity-free funding, expert mentorship, and access to BHP’s global network of suppliers and service providers. “Xplor has quickly become a recognised pathway for early-stage explorers who want to scale faster and think more boldly,” BHP’s Group Exploration Officer Tim O’Connor said in a news release. “The program provides not only capital, but access to the knowledge, networks, and technical depth that can fundamentally change the trajectory of a company,” O’Connor said. “As the world’s demand for critical minerals intensifies, building strong partnerships between majors and juniors will be essential. Xplor is about shaping a new way of working together to unlock the resources needed for the future.” “The 2026 cohort will join BHP Xplor’s growing alumni network, now spanning 21 companies, to continue sharing insights and learnings as they progress on their journey.” BHP said Xplor provides an opportunity to engage with a diverse pipeline of exploration projects across new geographies and geological concepts. “The program has given us access to expertise and resources that have helped sharpen our strategy and move our projects forward more quickly,” Electrum Discovery CEO and current BHP Xplor participant Elena Clarici said. “It has also opened doors to networks and opportunities that would have been much harder to access on our own. Xplor is already making a real difference in how we grow as a company.” Applications for the BHP Xplor 2026 cohort are open until October 15. Apply here.

The Bitcoin price action has just delivered one of the rarest and most closely watched signals in technical analysis — the Golden Cross. Analysts suggest that this powerful setup could lay the groundwork for an explosive rally, with speculations pointing toward a potential surge of over 100%. Bitcoin Price Chart Flashes Golden Cross On Thursday, crypto analyst ‘Merlijn The Trader’ declared on X social media that Bitcoin has just flashed a Golden Cross, its rarest and most powerful technical signal. The analyst described this development as a historic moment that has only occurred three times since BTC’s inception. Each past occurrence has led to extraordinary price rallies, establishing the Golden Cross as a key signal that most traders and investors watch closely. Sharing a detailed price chart, Merlijn outlined Bitcoin’s trajectory after each prior Golden Cross, pointing to returns that have left an indelible mark on the cryptocurrency’s history and the market as a whole. In 2016, the appearance of a Golden Cross set the stage for a bull rally of roughly 264%, a move many saw as the opening act of BTC’s first major run into mainstream recognition. A year later, the signal reemerged in 2017, coinciding with Bitcoin’s meteoric rise of over 2,200%, culminating in the unprecedented high between $17,000 and $27,000. The third Golden Cross formation came in 2020, when BTC surged more than 1,190%, climbing from a low between $4,600 and $7,000 to roughly $69,000 by late 2021. Each instance not only marked a breakout rally but also achieved a new all-time high for the cryptocurrency. Now, in 2025, Bitcoin has reportedly triggered the Golden Cross signal for the fourth time in its history. Merlijn’s analysis highlights that this is not just a routine crossover but an ignition point. He noted that previous Golden Cross signals aligned with the start of Bitcoin’s most powerful bull phases. As a result, the current setup could prepare the cryptocurrency for another outsized rally to new ATHs. Based on historical data, even a conservative repeat of past percentage gains suggests Bitcoin could climb well beyond $200,000. A 100% rally from current levels above $115,000 could push the leading cryptocurrency well above $230,000. However, Merlijn’s chart points to an even greater move, projecting a potential surge to nearly $400,000. Bitcoin Bull Market Support Bands Hold Firm Crypto analyst Mags has also drawn attention to a different technical signal, reinforcing Bitcoin’s bullish case. According to him, BTC’s bull market support bands have acted as critical support zones in the past cycles, keeping the broader uptrend intact during temporary corrections. Throughout this cycle, each time Bitcoin’s price tested the bull market support band, it managed to hold and rebound strongly. The most recent test saw the cryptocurrency bounce cleanly off the band, suggesting buyers are stepping in at these levels to defend support. Mags added that this consistent support has created a foundation for further gains in BTC’s price, indicating that the market is not overextended.

According to data from blockchain analytics firm Glassnode, a group of mid-sized Bitcoin holders has stepped up buying this week, taking in roughly 65,000 BTC over the past seven days. At a spot price of $113,595, that haul equals about $7.35 billion. Reports have disclosed that these investors — wallets holding between 100 and 1,000 BTC — have pushed their monthly net accumulation to 93,000 BTC. Sharks Expand Their Holdings Those mid-sized holders a.k.a. “sharks” now control about 3.65 million BTC. That is roughly 18% of Bitcoin’s circulating supply, which is about 19.91 million coins. The shift is striking because it removes a meaningful chunk of coins from the pool of easily traded supply. Less available BTC can change how quickly prices move when demand rises. What This Means For Supply And Demand While these sharks are not the same as the very large institutional whales, their moves still affect market balance. Buying at this scale reduces liquid supply and can push prices up if fresh buying keeps coming. Some market participants see the pattern as a sign of growing confidence among this class of investors. At the same time, it can raise short-term volatility: when a concentrated group holds more coins, their future decisions to sell or hold will matter. Market Moves And Recent Price Action Bitcoin’s run this year has been strong. Based on market tracker numbers, BTC has climbed about 100% over the past year, is up 23% year-to-date, and has gained over 40% over the past six months. Price action has not been smooth, though. The market fell to about $107,000 on September first, then recovered to a little over $116,000 earlier today. At the time of writing, BTC was inching near $114,000. Forecasts And Investor Expectations Public forecasts have been bold. Strategy executive chairman Michael Saylor has suggested Bitcoin could top $150,000 by Christmas. Tom Lee of Fundstrat has forecast $200,000 by the same date. Risks And What To Watch For This aggressive accumulation comes with caveats. Markets can reverse quickly. Large inflows into or out of ETFs, miner sell pressure, or a shift in macro conditions could halt the rally. Also, heavy concentration in certain wallet groups can amplify moves if those groups change course. Investors should watch wallet flows, trading volumes, and major announcements that might tilt sentiment. In short, the recent buying by mid-sized holders is a clear, measurable trend. It tightens the pool of coins available to trade and has coincided with strong price gains this year. Featured image from Meta, chart from TradingView

As the altcoin market experiences a resurgence, XRP has struggled to gain momentum, consolidating between $2.70 and $3 for the past two weeks. Despite the excitement surrounding potential exchange-traded funds (ETFs) that could invest in the altcoin if approved, The Motley Fool has cautioned that the current market correction may persist longer than many anticipate. Warns Of Prolonged Downtrend In a recent analysis, the firm attributed some of XRP’s lackluster performance to a general malaise in the cryptocurrency market, where traders are waiting for Bitcoin (BTC), the market’s leading cryptocurrency, to lead a new price rally. However, two critical factors suggest that XRP may face a more prolonged downtrend than previously expected. The anticipated launch of new spot crypto ETFs has been a focal point of discussion since the beginning of the year. Several asset managers have submitted applications to the Securities and Exchange Commission (SEC) to create spot XRP ETFs, with Bloomberg estimating a 95% approval chance and online prediction markets estimating 94%. While approval seems likely, the real question revolves around the demand for these ETFs. XRP, currently the world’s third-largest cryptocurrency, undoubtedly has some level of institutional interest, yet the actual inflows tell a different story. Data indicates that only $1.25 billion flowed into XRP from institutional investors during the first eight months of 2025. JPMorgan Chase has projected that the upcoming ETFs could attract between $4 billion and $8 billion into XRP. However, the firm asserts that even the lower end of this estimate might not significantly influence XRP’s price action over the long-term, given its current market capitalization of $180 billion. Recovery For XRP May Not Occur Until 2026 While there is considerable optimism among analysts regarding XRP’s future, with some price predictions suggesting it could reach new record prices of up to $4, $5, or even $10, the firms noted that these projections do not account for the risks of short-term price declines. According to crypto betting platform, Polymarket, there is a 32% chance of XRP dropping to $2.50 this year, a 30% chance it could fall to $2.40, and a 27% chance of plummeting to $2. These statistics indicate that XRP could continue to drift lower over the next few months before any meaningful recovery takes place, potentially not occurring until 2026. Ultimately, The Motley Fool analysis suggests that any upward movement for XRP is likely to depend on Bitcoin’s performance. If Bitcoin fails to reclaim its previous peak by the end of the year, it will be challenging for XRP to initiate its own rally. As of this writing, the XRP price has recovered the $3.0675 mark, representing a 1.5% surge within the last 24 hours. This pales in comparison to Ethereum’s (ETH) 5% gains within the same time frame. Featured image from DALL-E, chart from TradingView.com

Beaver Creek, Colorado – Canadian dealmaker Frank Giustra says the age of paper gold is ending as BRICS nations stand up a parallel financial system that routes around the U.S. dollar and prizes deliverable metal. “We’re now, believe it or not, in the era of hard money,” Giustra said Tuesday in a conversation with Alex Deluce of the Ontario-based bulletin Gold Telegraph at the Precious Metals Summit. “If you own paper gold, you do not own gold. When the crunch comes, it will not be there.” China and partners among the BRICS (Brazil, Russia, India, China and South Africa) nations are building a system to mirror Western finance. It spans payments, settlement, depositories, ratings and swap lines – all outside the dollar. It downplays paper gold, products like gold exchange-traded funds, sovereign gold bonds and gold futures that represent a stake in gold’s value without physically possessing the metal. Giustra, a member of the Canadian Mining Hall of Fame, pointed to yuan-for-gold convertibility on the Shanghai Gold Exchange, new physical-delivery vaulting in Hong Kong and plans for more warehouses abroad. “It basically puts (global financial messaging network) SWIFT back into the stone age,” he said. De-dollarization Record bullion prices this week underscore Giustra’s argument that physical gold is eclipsing paper contracts as the true measure of value. With central banks hoarding metal and governments testing non-dollar payment systems, the shift points to a world where gold miners with scalable ounces and low costs stand to benefit while traditional currencies and leveraged financial products come under strain. U.S. President Donald Trump using tariffs as political weapon has sped a global split into rival trading camps. Half the world is pushing trade and savings towards non-dollar channels, the serial entrepreneur said. “A lot of people think the administration is playing 3D chess,” said Giustra, a financier known for founding Wheaton River Minerals and helping launch Goldcorp into a major producer. “I just don’t see it.” A key BRICS plank, he said, is the cross-border central bank digital currency pilot often called mBridge. It was launched by China, Hong Kong, Thailand and the United Arab Emirates with Saudi Arabia recently joining. It lets participants settle in local currencies rather than dollars. Against that, he set out a U.S. path that leans on dollar stablecoins, digital tokens backed by short-term Treasuries. “MBridge and stablecoins are competing forces,” Giustra said. Stablecoins, as designed, create “a way to stuff additional Treasuries into virgin pockets that never existed before.” In his scenario, once enough debt sits inside those reserves, Washington could devalue the dollar, knocking holders of cash and dollar stablecoins while pushing hard assets like gold and metal producers higher. Miners’ fillip If physical delivery increasingly sets the clearing price, bullion premiums (the additional cost above benchmark spot prices that buyers must pay to secure real, deliverable ounces) and mine supply become the real constraints. It’s a setup that favours producers with scalable ounces and low costs while challenging leveraged paper products and bank trade desks, Giustra said. For investors, custody, convertibility and geopolitics matter as much as interest rates. Heavy public debts and politics point to lower short-term rates, higher long-term yields and the return of quantitative easing or yield-curve control to cap borrowing costs – a path that weakens fiat currencies over time versus physical gold, he said. “Fiat currencies in general are in their death throes,” Giustra said. “There is a global monetary reset coming. How it manifests itself, who knows, and whether it’s done peacefully or with a war, who knows.” ‘National security’ If the dollar’s reserve role slips, he added, the U.S. could face inflation, higher rates and a lower standard of living. “It’s a national security issue.” Giustra framed the stablecoin-and-devaluation path as a scenario, not a forecast. MBridge remains a pilot and policy choices in Washington and Beijing will determine how far and how fast any shift runs. Giustra traced the current gold run to a third stage of a bull market that began after 1971 and, in his framing, reignited when gold broke $1,900 an oz. in 2020. Central banks are repatriating bullion and prioritizing control of gold bars. “Everybody’s scrambling to get physical gold onto their own territory,” he said. “This time is going to be chaotic.”

Week in Review - Equities with Fresh All-Time Highs Another inflation print from the US and focus still remains on the labor market where unemployment claims saw a significant spike this week. This leaves the Fed in a position where anything but a rate cut next week could send markets spinning. Inflation data this week did flash some warning signs. Looking at the data, tariff driven price pressure leaks through the economy, though it looks different across categories. Food prices seem to climb a bit, while many non‑essential items are easing. Yet the worry for a typical Fed watcher is not the direct cost of imported goods. It is more about the rise in service costs that come from inside the country. Take the index for services excluding energy. In August it sat at three point six percent. Services less shelter were higher, around four percent. Both numbers sit well above the two percent goal Fed constantly cites. At the same time, the producer‑price data released yesterday showed a weaker jump than analysts expected. Those weak spots feed into personal consumption expenditure measures, which the Fed prefers for inflation. That filter mostly points to higher pressure, not relief. When you line up the latest CPI release, math points toward a core PCE near three percent for August. “Supercore” PCE appears to sit above three point three percent, edging past peaks seen in February 2025 and December 2024, months when the Fed paused rate cuts. If this pattern holds, the central bank may have to rethink its easing path in the near term. Or perhaps the service surge could soften later, giving policymakers breathing room. However, despite the inflation concern Fed Chair Powell faces political pressure as well as growing concerns about the US labor market. Given Fed Chair Powell's Jackson Hole speech where he practically confirmed that labor market data is currently the major factor rather than inflation. However, can the Fed ignore the signs? Consumer Confidence Plummets Amid Economic and Inflation Worries Consumers are growing more pessimistic about the economy, with a key measure of sentiment falling to a four-month low in September. The decline was sharper than expected, driven by widespread concerns about rising risks to business conditions, the job market, and persistent inflation. The University of Michigan’s consumer sentiment index dropped to 55.4 this month. This was a notable slide from the previous month’s reading and came as a surprise to economists, who had anticipated only a slight dip. The worsening sentiment was particularly strong among lower- and middle-income groups, highlighting the economic pressure on these households. The report revealed that consumers' views on their own personal finances are declining, with a gloomier outlook for both their current situation and future expectations. Looking at the specifics, a gauge of how consumers feel about current conditions slipped, but the biggest drop came from the barometer of their expectations for the future, which fell sharply. Consumers are also growing more concerned about long-term price increases, as long-run inflation expectations rose for the second consecutive month, climbing to 3.9% in September. Stock Surge Continues The S&P 500 and Nasdaq continued their impressive performance and pushed up to new record levels, mainly thanks to a jump from Microsoft. Investors seemed to be eyeing the Federal Reserve’s meeting next week, where many think a rate cut could happen because the jobs market looks slower. The Dow Jones fell a bit, while the S&P barely rose after a big rally the day before that lifted all three indexes to historic peaks. People are really focused on the Fed’s session on Tuesday and Wednesday. Some analysts think the bank may trim rates by 25 basis points, especially as jobs data dominate the Fed agenda and concerns. Source: LSEG The Week Ahead Asia Pacific Markets - Japan and China in Focus The Bank of Japan will probably keep the interest rate the same this week. Exports have been slipping, maybe because US tariffs are still biting. Imports could drop too, since global commodity prices seem to be falling. Because exports stay weak, the BoJ may leave its 0.5% policy rate unchanged on Friday in my opinion. The bank still needs some time to see how new US‑Japan trade deal works out. Consumer price numbers are likely to ease to about 2.9% year‑over‑year in August, thanks to last year’s high base. Core inflation, which leaves out food and energy, might stay above 3%, which could help a rate rise in October. Governor Ueda won’t say anything hawkish, given the fluid political scene. Some analysts think the weak export data could hurt consumer confidence, which may slow growth. China will publish its August numbers on Monday. Retail sales are expected to bounce back, around 4% higher than a year ago. At the same time, industrial output probably keeps slipping, perhaps down 5.6% year‑over‑year. Fixed‑asset investment may also fall, about 1.5% down so far this year. Housing price data from about 70 cities should show that the downtrend has continued for a few months. Poor weather was often blamed for the weak July figures. Therefore, August’s data will be a key test to see if the slowdown was just a blip or a longer trend. Federal Reserve, Bank of England (BoE) and Bank of Canada (BoC) in Focus The Fed meeting on Wednesday gets our attention. Inflation still feels high, but the job picture may be getting worse. Over the last four months we have only seen modest job growth, and a recent revision even hints that more than half of the jobs reported added by March weren’t real. That suggests the labor market is softer than it first seemed. A cooler economy and a weaker jobs market could ease the price pressure that comes from tariffs. The Fed therefore might move away from its “somewhat restrictive” stance toward a more neutral stance. According to LSEG data, there is 95% probability of a 25‑basis‑point cut, pulling rates down toward 3.25% by March, down from the current 4.5% ceiling. Retail sales data, due Tuesday, looks likely to stay low because consumers feel uneasy and car sales keep dropping. Industrial output could still shrink again, as the latest manufacturing survey points to another dip. The jobs market feels like a wild card for the Bank of England. We will be watching payroll numbers for any sign of weakness. Recent surveys have been getting better, which may mean the worst is over, but the autumn could still bring risk. Also we need to see if wage growth is finally easing. Looking at the UK and Inflation data due Wednesday is another focus. The BoE is especially nervous about food prices, and those numbers are likely still to sit above five percent. Services inflation, on the other hand, might inch lower. If that happens, the report probably won’t shift the Bank’s plan for cutting rates. I still expect a cut in November, although a big surprise on inflation could make us rethink that view. On Thursday the Bank is not expected to cut rates. Historically it likes to cut only once per quarter and it already cut in August. Even a change in forward guidance looks unlikely in my opinion. Even though the Central Bank has hinted at more cuts, that hint may simply show rates are edging toward a potentially neutral level. The Bank of Canada may cut rates by about 25 basis points soon. Canada’s economy is tied closely to President Trump’s tariffs, moreover production dropped in the second quarter. It may mean that demand from the US weakens, which could linger. Jobs numbers slipped again in August, pushing unemployment up to roughly 7.1 %. Inflation sits near the target, in conclusion the central bank could push rates toward the low end of the so‑called neutral range. Therefore I think another cut could happen in the fourth quarter. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Week - US Dollar Index (DXY) This week's Chart of the week is the US Dollar Index (DXY). The DXY remains under pressure but has thus far remained above the YTD low which was printed in July. The question for many in the week ahead will be whether a rate cut will lead to a fresh yearly low? While this is possible, it does appear that markets have already priced in the majority of a 25bps rate cut. This means that we could be in for a DXY rally this week. This of course is my opinion and could change if the Fed issue a dovish outlook or if Fed Chair Powell hints at more aggressive rate cuts moving forward. Immediate support rests at 97.13 before 96.90 and YTD low around the 96.38 handle come into focus. A move higher for the Index faces a significant confluence area around the 98.50 mark. Beyond that the 99.50 and 100.00 areas come into focus. US Dollar Index (DXY) Daily Chart - September 12, 2025 Source: TradingView.Com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Log in to today's North American session Market wrap for September 12 The inflation picture is settling down, with consecutive PPI (-0.1% vs 0.3% exp) and an as-expected CPI reinforcing the view that tariff effects are translating into one-off price shocks rather than a lasting trend. Since then, risk assets have surged, led by a two-day equity rally that spilled over into a massive breakout in the crypto market. (Still, watch the ongoing risk-off move happening as the week closes and traders secure profits, this is week-end risk happening) A picture of the afternoon rally in the crypto Market, September 12 – Source: Finviz (I invite you to check our latest Crypto analysis to check how things have evolved since the morning session) Meanwhile, higher tariffs from Russian oil importing nations haven't fazed commodity traders, with oil prices largely correcting into the afternoon. Going towards the weekend, risk appetite stays firm as traders shrug off geopolitical noise and set their sights squarely on next Wednesday’s FOMC. (EDIT: As I am writing this, there is a huge week-end risk move where traders sell risk assets, something to watch as the session concludes). Read More:Nasdaq outperforms while Dow falls and S&P 500 holds steady ahead of FOMCA hesistant FX Market after the as-expected September CPI release – Technical levelsUK economy stagnated in July - GBPUSD at a crucial pointCross-Assets Daily Performance Cross-Asset Daily Performance, September 12, 2025 – Source: TradingView Ethereum goes parabolic in today's continued breakout after following an upside trendline which bulls brought up even before the CPI release. The second largest crypto rallying is (almost always) a good sign for the rest of the crypto market, and allowed wild spirits to unleash on altcoins. On the other side of the performance spectrum, Bonds and the Dow Jones have both struggled in another wave of tech performance. Gold posts another decent session to conclude the week, but most of the attention in commodities go to Silver, which just keeps powering through new yearly highs. You should also check out our most recent Silver analysis! A picture of today's performance for major currencies Currency Performance, September 12 – Source: OANDA Labs The FX picture is still very dull, with the largest movements throughout this week not breaching the +/- 1% line. The US Dollar still rebounded slightly from the hesitant selling. I'd also watch the Euro which has held very strong amid renewed hawkish talk by Christine Lagarde in her latest speech. A look at Economic data releasing in Monday's session For all market-moving economic releases and events, see the MarketPulse Economic Calendar. There isn't much on the calendar for the Weekly opening session which may offer a very stagnant trading day (as per usual before such huge FOMC days). Get ready for the huge week ahead (and also don't forget the other wave of Lagarde Speeches on the afternoon session) Safe Trades and enjoy your weekend! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Ethereum is navigating a turbulent phase, with price action holding around key levels while volatility and uncertainty dominate the broader market. Despite the lack of clear direction, institutional appetite for ETH continues to grow, underscoring confidence in its long-term value. One of the most notable dynamics shaping Ethereum’s outlook is the shrinking supply on exchanges, as more coins move into cold storage and long-term holdings. This trend signals reduced sell pressure and reinforces the narrative of accumulation beneath the surface. Fresh data from Arkham adds weight to this view. According to their latest report, three newly identified whale wallets collectively purchased over $200 million worth of ETH yesterday. Such large-scale inflows highlight that major investors remain active even in choppy conditions, positioning themselves ahead of what many see as the next decisive move for the market. While short-term traders grapple with swings, the underlying flows point to a growing disconnect between surface volatility and deeper structural demand. Institutions and whales continue to treat Ethereum as a core asset, betting that its utility and adoption will outlast momentary market uncertainty. As consolidation plays out, these strategic buys could prove pivotal in shaping Ethereum’s next breakout. Ethereum Accumulation Signals Institutional Strength Ethereum continues to attract significant institutional attention, even as short-term price action reflects broader market uncertainty. According to Arkham, three newly created whale addresses collectively purchased $205.48 million worth of ETH from FalconX, a move that underscores the growing role of large players in shaping Ethereum’s trajectory. Such substantial acquisitions highlight that institutional money is steadily flowing into ETH, viewing it as a core asset in the evolving digital economy. Recent price action, marked by volatility and sideways consolidation, is less about Ethereum’s fundamentals and more about the uncertainty clouding the macroeconomic environment. While traders focus on the noise of short-term swings, whales and institutions are making long-term bets on adoption and shrinking supply. Exchange balances for ETH continue to trend downward, reinforcing the idea that large investors are moving assets into cold storage with little intent to sell in the near future. Looking ahead, the market’s attention turns to next week’s US Federal Reserve meeting, where a widely expected rate cut could act as a major catalyst for risk assets. Analysts believe the decision will mark the beginning of a new phase for the market, potentially unlocking further liquidity inflows. If confirmed, Ethereum’s combination of strong fundamentals and accelerating institutional accumulation could set the stage for a renewed leg higher, solidifying its leadership in the altcoin sector. Price Action Details: Consolidation Ahead? Ethereum is trading at $4,515, marking a strong rebound and continuation of its broader bullish structure. The weekly chart highlights how ETH surged from lows near $1,600 earlier this year to test the $4,800 level, underscoring the intensity of the rally. This move also shows Ethereum outperforming most altcoins as institutional demand and shrinking exchange supply continue to support momentum. The 50-week SMA at $2,935 and the 100-week SMA at $2,876 are both turning upward, while the 200-week SMA at $2,444 remains a strong long-term support base. With price comfortably above all major moving averages, Ethereum is technically positioned in a solid uptrend. The breakout from the $3,200 resistance zone in July paved the way for the sharp leg higher, confirming strong accumulation beneath. For bulls, the next key challenge is reclaiming and holding above $4,800. A decisive breakout beyond this resistance could set the stage for ETH to target $5,200–$5,500 in the coming weeks. On the downside, immediate support lies around $4,300, with deeper backing near $3,800 if volatility picks up. Featured image from Dall-E, chart from TradingView

US indices post another fantastic week in ever-ecstastic trading. Participants have been looking away from a now-priced-in slowing Labor market in the US that is still at historically great levels, as inflation came back to grab the most-watched seat. The consecutive CPI and PPI releases have boosted bullish spirits, pushing all indices to new all-time highs in yesterday's session. The Dow Jones saw the heaviest inflows, concluding the session up a staggering 1.38% compared to the 0.63% and 0.82% rises for the Nasdaq and S&P 500, respectively. Nasdaq is taking back its throne in today's action, breaking new records yet again. Some analysts mention that odds for a 50 bps cut at next week's meeting are still far from underrated with good reasons. The -932K (vs -630K) BLS Labor data revisions released last week have added to the US labor's degrading picture as tariffs bite into companies' profits even more in recent months. Add this to the political menaces from the Trump Administration and the dissenting FED speakers who are now gone (hi to Lisa Cook and Adriana Kugler), and with the not-so-hot CPI relative to expectations, the FOMC might be lagging on their policy. Inflation is still uncomfortably high when looking at the core figures (+3.1% Y/Y), adding to uncertainty about this outcome—75 bps of cuts are still heavily priced in the three final meetings for 2025. Explore intraday charts and technical levels for the Dow Jones, Nasdaq and S&P 500. Read More: US and NATO Tariffs pressure global trade and energy flows – WTI Oil at a CrossroadsETH breaks out and SOL surges higher, keeping crypto markets tightA picture of today's Equity action US Stock Market heatmap, September 12, 2025 – Source: TradingView Another tech-led session to conclude the fantastic performance by Equities this week. No surprise that the Nasdaq is leading in today's session: Look at Tesla breaking out, Palantir recovering with hunger and Microsoft. Other sectors have been struggling a bit more when looking at the red dots to the right, particularly in Consumer Services and Health technology. Next week is promised to be fun to watch and trade. Dow Jones 4H Chart Dow Jones 4H Chart, September 12, 2025 – Source: TradingView Still constrained by the rising wedge upper trendline mentioned the past week, sellers have appeared to take profit in the index which exploded yesterday. Translating to individual sectors explains why today is less interesting for Dow Jones bulls. Anyhow, an elevated RSI is retracting to neutral, more healthy levels and may allow further action to develop looking forward. Also, do not forget how huge was yesterday's green candle for the Dow. Profit taking here isn't too surprising. Watch the lower trendline of the rising wedge for support and be careful of a break. Levels for Dow Jones tradingResistance Levels Current All-time high 45,765ATH Resistance Zone 45,700 (+/- 150 pts)1.618 Fibonacci-Extension for potential ATH resistance 46,400 to 46,850Support Levels Low of imminent consolidation 45,280Key Support/longer-run pivot 45,000Support 44,200 to 44,500Main Support (NFP Lows) 43,000 to 43,750S&P 500 4H Chart – 6,600 broken! S&P 500 4H Chart, September 12, 2025 – Source: TradingView The Spoose is enjoying its pre-weekend trading after a slow start to the session. Dragged by an ever-joyful tech sector, bulls are taking the S&P 500 to another round of record high and trades 1 point away from the 6,600 level as I write this. The ongoing 4H candle trades at its highs, leaving not much space for bears to interract. Still, trading might be slightly more cautious as the FOMC day looms. S&P 500 technical levels Resistance Levels Daily highs 6,601!6,570 to 6,603 Potential ATH resistance (from Fibonacci extension, currently trading)Higher timeframe potential resistance around the 6,700 level (1.618 from April lows)Support Levels 6,490 to 6,512 pivot6,400 Main Support6,300 psychological support6,210 to 6,235 Main Support (August NFP Lows)Nasdaq 4H Chart Nasdaq 4H Chart, September 12, 2025 – Source: TradingView The Nasdaq has been very tricky in the past weeks, showing initial hesitation and trading choppy before exploding higher leaving bears in fumes. Today was not an exception. After a relatively slower day compared to its peers, the tech-focused index is taking a train to a new price discovery phase. Look at the tech-sector compared to others. It is scary to be short these days. Nasdaq technical levels of interest Resistance Levels Current All-time Highs 24,13824,203 to 24,250 1.382 Fibonacci level from monthly lowsPotential resistance at the 1.618 from monthly lows 24,400Support Levels Previous ATH zone turning pivot (23,950 to 24,020)23,500 support23,000 Key SupportEarly 2025 ATH at 22,000 to 22,229 SupportSafe Trades! Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin (BTC) and cryptocurrency exchange Gemini (GEMI), founded by twins Tyler and Cameron Winklevoss, experienced a major debut on the Nasdaq, soaring nearly 40% following the company’s initial public offering (IPO), which raised $425 million. Gemini Success On Nasdaq Debut Based in New York, Gemini priced its IPO late Thursday above the anticipated range of $24 to $26, reflecting strong investor interest. This valuation positioned the company at approximately $3.3 billion before trading commenced. Despite the successful debut, Gemini has faced financial challenges. According to its registration with the Securities and Exchange Commission (SEC), the company reported a net loss of $159 million in 2024 and a loss of $283 million in the first half of this year. The Winklevoss brothers, who are recognized as early Bitcoin investors and the first Bitcoin billionaires, have consistently advocated for Bitcoin as a superior store of value compared to gold. In a recent interview on CNBC’s Squawk Box, they expressed their belief that the price of the market’s leading cryptocurrency could reach $1 million within the next decade, saying it could easily increase tenfold from its current price. GEMI Stock Peaks At $40 The Winklevoss twins’ exchange debut on the Nasdaq follows those of Circle (CRCL), the issuer of the second-largest stablecoin by trading volume (USDC), and Bullish (BLSH), the Peter Thiel–backed exchange, which were among the first crypto firms to go public this year. According to Arkham data issued after the initial public offering debut today, the brothers’ long-dated commitment to Bitcoin and broader crypto market has led them to amass over $2 billion in crypto assets, mostly consisting of BTC. The newly traded GEMI stock opened at $37.01 on Friday, significantly exceeding the IPO pricing of $28, and at one point reached a high of $45.74 during trading. Since, the stock has retraced toward its current valuation of $34. Featured image from DALL-E, chart from TradingView.com

XRP is now back trading above $3 and is holding well above the price level. This is on the back of days of consolidating around $2.8. Although price action in the past 24 hours has seen XRP trading back above $3, it is yet to confirm a close to solidify the zone. Against this backdrop, technical analysis of the XRP 4-hour candlestick timeframe chart shows a critical level that could determine whether XRP finally breaks free into price discovery. Resistance Keeping XRP From Price Discovery Although the XRP price is currently inching slowly upwards, technical analysis shows it is yet to break above a technical resistance keeping it from price recovery. According to a technical analysis of the XRP 4-hour candlestick timeframe chart that was posted on the social media platform X by CoinsKid, XRP’s movement in August was capped by a resistance line at $3.3774. This resistance is represented with the white trendline in the price chart below. The importance of this line goes beyond short-term price action. As it stands, this resistance barrier has effectively become the gatekeeper between XRP’s current price action and the possibility of a major breakout for price discovery into new all-time highs. According to the analyst, clearing this line would mark the point at which XRP could enter price discovery, a stage where there are no previous highs to serve as reference points. Until that happens, XRP is expected to continue oscillating within its established range, with $2.7346 acting as the lower white support line on the chart. Possible Shakeout Before The Break Although XRP has managed to hold above notable price points around $2.8 during its most recent corrections, there’s always the possibility of a strong downside move. CoinsKid also noted that a final shakeout could take place before any bullish breakout occurs. This shakeout could see the sellers gain temporary momentum and cause the XRP price to break below $2.8 and crash to lower price levels. In this case, the analyst pointed to the orange support trendline at $2.3375 as a possible level that XRP might retest in such a shakeout. CoinsKid linked this possibility to September, earning the reputation of being rektember during bull cycles. However, this September might be different, considering the current dynamics of the crypto market. At the time of writing, XRP is trading at $3.06, up by 1.8% in the past 24 hours. The analyst noted that XRP’s macro structure will be bullish as long as it holds above the green line at $1.9061. This long-term support has so far underpinned the rally that began in late June. XRP is already up by about 10% from its September open, but it could possibly perform better in the later part of the month. The probability of a Fed rate cut in September is now above 97%, and this could play into a bullish run for XRP and many other large market-cap cryptocurrencies.

Silver extended its winning streak for a third straight session on Friday, as an increased likelihood of a Federal Reserve rate cut next week pushed the precious metal higher. Spot prices rallied another 1.6% to surpass the $42/oz mark. Its intraday high of $42.46 was the highest since 2011. Click on chart for live prices. This takes silver’s weekly gains to over 3%, as a looming Fed decision on interest rates raised the prospects of non-yielding assets like silver. The latest US jobs data pointing to an economic slowdown further cemented market-wide expectations that a 25-basis-point cut is on the cards. “Weaker employment and spotty inflation … priced in with the Fed having to cut rates is pushing metals higher because there is the risk of longer-term inflation,” Daniel Pavilonis, senior market strategist at RJO Futures, wrote in a Reuters note. Over a longer horizon, analysts see further room to run. A new report by Sprott builds a bullish case for precious metals, predicting a strategic shift away from the US dollar and Treasuries under the current environment and into hard assets. In silver’s case, the case may be even stronger as the metal’s fundamentals are underpinned by powerful structural forces, namely a prolonged supply deficit and a tightening physical market. In 2025, silver has risen by more than 43%, even surpassing that of gold, making it one of the best-performing assets of the year.

Anglo American (LON: AAL) and Teck Resources’ (TSX: TECK.A, TECK.B)(NYSE: TECK) planned $53-billion merger could create the world’s largest copper mine by the early 2030s, surpassing BHP’s Escondida in Chile, according to analysts. The centrepiece of the deal is the integration of Teck’s Quebrada Blanca (QB) mine with Anglo’s Collahuasi operation. Together, they could generate about one million tonnes of copper annually, industry analysts say. “It is absolutely feasible that a Collahuasi-QB complex could surpass Escondida’s level of copper out-turn in the early 2030s,” said CRU Group analyst William Tankard. A proposed 15-kilometre conveyor would link Collahuasi’s high-grade ore to QB’s processing facilities, adding the equivalent of a new mine’s output. The system is projected to deliver an extra 175,000 tonnes of copper per year between 2030 and 2049, at lower costs and shorter timelines than a standalone development. A 15-km (9.3-mile) conveyor would be built to feed Collahuasi’s high-quality ore into QB’s new processing plants. (Click on map to enlarge) If completed, the combined Anglo Teck would rank among the world’s top five copper producers, with 1.35 million tonnes in output a year. It would also mark the mining sector’s biggest transaction of the decade. The companies project $800 million in annual pretax synergies, and up to $1.4 billion in additional EBITDA gains from shared procurement and operational efficiencies. “I think it’s conservative,” George Cheveley, portfolio manager at Ninety One, wrote this week. “The optionality to expand and develop that complex over multiple decades is not in that number.” QB fixes ‘critical’ Execution risks loom large. Teck’s QB mine has struggled with cost overruns, pit instability, plant outages, and waste-storage issues. Anglo American, meanwhile, does not fully control Collahuasi, where Glencore (LON: GLEN) and other partners hold significant stakes. Analysts caution that operational fixes at QB are critical before the combined complex can challenge Escondida. Wood Mackenzie values Teck at $10.8 billion on a post-tax, sum-of-the-parts basis: $13.8 billion from copper and $1.1 billion from zinc, offset by S$4.1 billion in central costs through 2040. That estimate excludes potential synergies with Collahuasi, QB’s growth options and a life extension at the Red Dog mine, but also factors in downside risk from QB’s operational setbacks. (With files from Bloomberg)

Bitcoin is once again gaining momentum, now trading above the $115,000 level after a modest surge yesterday. The move comes as markets price in growing expectations of a US Federal Reserve interest rate cut at its upcoming meeting next week. Risk assets, including crypto, have responded positively to the prospect of looser monetary policy, though the broader backdrop remains volatile. For Bitcoin, the challenge now lies in sustaining higher levels as bulls attempt to push further. While the reclaim of $115K signals strength, the path ahead is clouded with uncertainty as investors weigh macroeconomic risks alongside on-chain developments. Adding perspective, top analyst Axel Adler shared data showing that Bitcoin’s 30-day momentum currently sits in the Impulse Cooling Zone. This indicator suggests that while short-term momentum has softened, the broader uptrend remains intact. Adler emphasizes that the trend is not broken, framing the current phase as a period of consolidation rather than a structural reversal. With volatility likely to remain elevated in the days leading up to the Fed’s decision, Bitcoin’s ability to hold above $115,000 could prove decisive. The combination of macro catalysts and onchain resilience may define the cryptocurrency’s next significant move. Bitcoin Market Drift: Momentum, Liquidity, and Demand According to Adler, Bitcoin’s current setup reflects a phase of sideways action rather than a structural breakdown. He notes that negative 30-day momentum, while the price holds in the upper range, typically signals step-by-step unloading. In other words, coins are changing hands gradually without triggering a full reversal in the trend. For a proper restart and renewed acceleration, Adler identifies a key marker: the 30-day momentum must not only return to positive territory but also ideally push above +10%. That would confirm a shift back into a strong impulse phase. Until then, Adler emphasizes that the market remains in drift mode, shaped by thin liquidity. With fewer participants actively trading, the price can still crawl upward, largely due to weak supply and localized buybacks. However, this kind of advance carries the risk of a rapid collapse, since any spike in selling pressure could quickly overwhelm shallow order books. Crucially, Adler stresses that real demand does not emerge at cycle highs. Instead, it forms during moments when Bitcoin trades at an obvious discount. Referencing his earlier work on Short-Term Holder (STH) Cost Basis versus Premium/Discount, he highlights that meaningful inflows only arrive when the market offers value. In a mature bull phase, where buyers are wary of chasing peaks, sustained rallies depend on these discounted entry points rather than speculative momentum alone. This perspective underscores the delicate balance in Bitcoin’s current landscape: still structurally strong, but highly sensitive to liquidity shocks. BTC Holds Strong Above Demand Bitcoin is currently trading around $115,142 after a strong recovery from the $110,000 zone earlier this month. The 12-hour chart shows BTC climbing steadily and now pressing against a key cluster of moving averages. The 100 SMA at $114,610 is being tested as resistance, while the 200 SMA at $112,267 has now flipped into support, strengthening the bullish case. The 50 SMA at $111,987 is also trending upward, suggesting a short-term momentum shift in favor of buyers. A successful close above $116,000 would mark a significant step forward for bulls, potentially opening the path to retest $118,000 and the critical resistance at $123,217. This level remains the major barrier before Bitcoin can attempt another push toward its all-time highs. On the downside, immediate support rests near $114,000, followed by the $112,000 zone where the 200 SMA is positioned. Losing this level could weaken momentum and invite another round of selling pressure, with downside risks extending toward $110,000. The chart signals that Bitcoin has regained its footing after recent volatility. If bulls can hold above the moving averages and break through $116,000, the next leg higher may be underway, though resistance at $123K will be the true test. Featured image from Dall-E, chart from TradingView

Centerra Gold (TSX: CG; NYSE: CGAU) shares jumped to their highest level in more than three years after it released a pre-feasibility study that extended the life of its Mount Milligan open pit mine in British Columbia by about 10 years. The study issued Thursday extends the producing mine’s life until 2045, boosts gold and copper reserves by at least 52% and production by about 12%, while estimating capital costs at $186 million. The mine is about 155 km north of Prince George in central BC. “Mount Milligan’s [life-of-mine] extension marks a key milestone in advancing Centerra’s organic gold growth strategy,” president and CEO Paul Tomory said in a news release. “Ongoing exploration continues to highlight the potential to further expand mineral resources and extend mine life beyond the updated plan.” The forecast extension for Mount Milligan, which ranks as a mid-tier project by reserve size and grade compared to other sites in BC, adds to a previous, two-year extension for Mount Milligan last year. In a deal in February 2024, Centerra paid Royal Gold (NASDAQ: RGLD) $125 million for cost support at the mine. Company shares traded for C$13 apiece in Toronto on Friday morning, their highest level since April 2022, for a market capitalization of C$2.63 billion. Raymond James analyst Brian MacArthur, in a note on Friday, gave Centerra an outperform rating and a share target price of C$13.50, based on the mine life extension and production increase. 56% more reserves Proven and probable gold reserves jump 56% to 483.2 million tonnes grading 0.28 gram gold per tonne for 4.4 million oz. of contained gold, compared to the previous estimate from last year. Copper reserves rise by 52% for a grade of 0.16% copper for 1.7 billion pounds. The increases are driven mostly by resource conversion from increased tailings capacity and infill drilling. 12% production bump The optimized mine plan also boosts output by about 12% starting in 2029 to around150,000 oz. of gold and 69 million lb. of copper per year. Guidance for Mount Milligan this year totals 145,000 to 165,000 oz. of gold and 50 to 60 million lb. of copper. The production increase comes from a plant throughput rise by about 10% to 66,300 tonnes per day, the study says. The processing of low-grade stockpiles will happen from 2043 to 2045. The $186 million in non-sustaining capital costs, which Centerra said won’t be needed until the mid-2030s, are fully funded from the company’s available liquidity and future cash flow. Those costs break down into $114 million for a second tailings storage facility, which is to be spent from 2032 and 2033; $36 million for ball mill motor upgrades and flotation cells in 2028 that will raise throughput and increase recovery by around 1%; and $28 million for five new haul trucks to support moving more material and building more stockpiles. The second tailings facility could add decades of storage capacity beyond 2045, Centerra said. The mine’s post-tax net present value (at a 5% discount) is maintained at $1.5 billion in the study, based on long-term gold and copper price assumptions of $2,600 per oz. and $4.30 per lb., respectively. The NPV rises by 40% to about $2.1 billion at spot prices of $3,500 per oz. of gold and $4.50 per lb. of copper.

Electra Battery Materials (NASDAQ, TSXV: ELBM) has lined up C$17.5 million ($12.6 million) in Ontario government funding for its proposed cobalt refinery in Temiskaming Shores — seen as a critical project to the province’s critical mineral processing supply chain. Shares of the company shot up. Under a term sheet with Invest Ontario signed on Friday, the province would commit to this funding as part of a trilateral package of government support, following the US Department of Defense’s $20 million award in August 2024 and ongoing discussions with the Government of Canada. In total, the company could receive as much as $48 million (C$64 million) in government contributions, representing more than half of the C$100 million investment required to complete the project. Construction activities had previously been halted for nearly two years due to cost overruns and supply chain disruptions, but these government support allowed Electra to resume the project in June. When work was suspended in August 2023, the company was still about $60 million short. With the latest funding commitment, Electra’s shares skyrocketed by more than 20% by midday. On the NASDAQ, it traded at above $1.00 for the first time in nearly a month, with a market capitalization of $15.3 million. Toronto-headquartered Electra says the C$17.5 million from Invest Ontario would replace a previously arranged $20 million corporate investment. To support this new funding plan, it has also launched a comprehensive restructuring, targeting an approximate 60% reduction in convertible debt and a $30 million equity raise. Critical cobalt refinery Once operational, the facility is expected to become the first in North America dedicated to producing battery-grade cobalt sulfate. With an estimated annual output of 6,500 tonnes, the refinery would support the production of up to 1 million electric vehicles from domestically sourced battery material. Currently, about 90% of the global cobalt sulfate supply comes from China, leaving North American manufacturers heavily exposed to supply shocks. Electra, which started the project back in 2020, says the facility will play a critical role in reinforcing Canada’s battery materials supply chain and reducing reliance on foreign sources. “Establishing a domestic supply of battery-grade cobalt is essential to reducing reliance on foreign-controlled supply chains, safeguarding economic and energy security, and ensuring that Canada plays a leading role in the global energy transition,” Electra’s CEO Trent Mell commented in a press release Friday. “Electra’s investment in Temiskaming Shores will establish an integral link in the province’s critical mineral processing supply chains and fuel the next stages of Ontario’s leadership in electric vehicle battery manufacturing,” Vic Fedeli, Minister of Economic Development, Job Creation and Trade, added.

Freeport McMoRan Inc. (NYSE: FCX) said operations at its giant Grasberg mine in Indonesia remain suspended as the company continued efforts to rescue seven workers trapped underground earlier this week. The miner is still trying to reach the contractors at the copper mine in the province of Central Papua after a mud flow incident on Monday, according to a statement. Operations will remain halted to prioritize the safe evacuation of the workers, it added. Grasberg is the world’s second-biggest copper mine and a prolonged disruption could keep copper prices elevated. Freeport was allowed to resume shipping concentrate from the operation in March under a quota system, following a ban last year by Indonesia to encourage domestic processing. Freeport was seeking to use 90% of its quota before expiration this month, after earlier exports were disrupted by weather. The global copper smelting industry has been grappling with a dire shortage of concentrates this year, pushing charges to treat and refine the feedstock into the negative. Freeport’s new smelter in Indonesia has been slowly ramping up after being damaged by a fire last year. Freeport shares fell 3% Friday morning in New York, giving the company a market capitalization of $64.4 billion. Grasberg has an annual output of about 1.7 billion lb. of copper and 1.4 million oz. of gold from three mines in the district. Freeport holds a 49% stake in the complex, while Indonesia’s state-owned mining company holds the majority interest. Freeport Indonesia has previously forecast copper concentrate output of nearly 3 million tonnes in 2025.

Abcourt Mines (TSXV: ABI) has officially placed the historic Sleeping Giant mine back on the map with its first gold pour, following two months of development work. The milestone took place on Sept. 11, the Quebec-based gold miner said in a release. The Sleeping Giant site is located in the Eeyou Istchee region, within the prolific Abitibi Greenstone Belt. Pascal Hamelin, president and CEO of Abcourt, said this successful gold pour is “just the beginning of what promises to be an exciting chapter” for the company, which holds about a dozen other gold properties in the region. In a separate release from earlier this week, he said the next phase in the project will be to start delivering gold bars to the market in a high gold priced environment. Shares of Abcourt traded flat on the news at C$0.08 apiece, for a market capitalization of about C$81 million ($58.5 million). This is the highest the stock has traded at over the past 52 weeks. Rebooted gold mine The milestone marks the first time that the Sleeping Giant mine has produced its first gold in over a decade. The historic site operated between 1987 and 2014, producing over 1 million oz. of gold. In the ensuing years, Abcourt used the 250,000-tonne-per year process plant to treat ore from nearby mines, and only recently turned on the mill again. In June 2023, the company laid out its plans to restore operations at the mine and mill, eyeing an initial capital investment of C$42 million and an 18-month timeline to completion. A preliminary economic assessment that year estimated an annual production of 30,000 oz. over a mine life of 5.8 years, under the assumption that the mill would only operate at half its capacity. “This project could quickly become the next gold producer in Quebec,” Hamelin said at the time, adding that the next step is to upgrade the resource base at Sleeping Giant. At present, the underground deposit hosts about 173,330 ounces in measured and indicated resources and 248,300 ounces in inferred resources, the company estimates.

US tariffs are still influencing global trade quite largely despite having a less-intense headline impact on Markets. The latest pressure was put on Mexico which hiked tariffs on Chinese imports and particularly on auto imports. China recently expressed their discontent with the situation. WTI Oil prices saw a recent spike amid elevated tariff rhetoric and continuing geopolitical heat, particularly on countries who import cheap Russian oil. Washington is pushing G7 and EU nations to impose up to 100% tariffs on China and India for buying Russian oil, arguing those purchases keep Moscow’s war machine funded. Japan was among the latest movers to add pressuring policies on these importers in a strong diplomatic gesture. These measures keep affecting the oil market already priced for disruption. Supply worries, trade barriers, and risk premiums are showing up in spreads and futures curves. Let’s dig into the technicals to see if US Oil is finding a bottom or if the ripple effects have a longer way to run. Read More:ETH breaks out and SOL surges higher, keeping crypto markets tightAnother piece highlighting pressures on WTI: Weakness prevails below US$64.36/barrel as geopolitical risk premium fizzles outUS Oil multi-timeframe technical analysisWTI 4H chart WTI 4H Chart, September 12, 2025 – Source: TradingView Oil is still evolving in the $62 to $64 consolidation range mentioned in our previous WTI piece. The action did spike above the 4H MA 50 from the latest headlines, to reverse the bearish price action led by the consecutive (relatively low) PPI and CPI releases highlighting a small decrease in activity and demand. Higher supply from OPEC+ is now priced in, leaving the space for headline-based movement ahead. Levels to place on your WTI charts: Resistance Levels $64 50-period Moving Average and consolidation highsHigher timeframe pivot $66July mid-range $67 resistanceSupport Levels May range Support $63 to $64 (currently testing)Current consolidation lows $61.84 to $62$60.5 Low of May RangeWTI 1H Chart WTI 1H Chart, September 12, 2025 – Source: TradingView Diving into intraday charts, impulsive bull moves from the overnight session brings pressure to the upper bound of the range. Weekend risk and headlines will maintain probabilities of further upside trading as the past few weekends had brought some volatile swings in the commodity. Breaking above would point to a test of the $66 pivot zone, while failing to break will confirm a stronger consolidation. Safe Trades! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Brazil’s federal prosecutors have asked the country’s mining regulator to suspend lithium projects in Minas Gerais, citing inadequate consultation with local communities and environmental risks. The Federal Public Ministry (MPF) requested that the National Mining Agency (ANM) review exploration and extraction licences in Araçuaí and neighbouring municipalities in the Jequitinhonha Valley, the region that hosts most of Brazil’s lithium developments. The agency has 20 days to assess current permits and stop issuing new ones until proper consultations are carried out. Prosecutors said indigenous groups, quilombola (Afro-Brazilians descendants of slaves) communities and other traditional residents were not consulted before projects were approved. They stressed that permits must follow principles of free, prior and informed consent, in good faith. Prosecutors also claim that existing operations have already harmed local communities. Quoting “expert reports” the MPF said the Neves project, operated by Atlas Lithium (NASDAQ: ATLX), disrupted water supplies when roadwork damaged community pipelines in Calhauzinho, Passagem da Goiaba and other areas. “The reports warn that the expansion of mining will increase pressure on infrastructure and water resources,” the MPF said in the statement. Sigma Lithium’s (TSX-V, NASDAQ: SGML) subsidiary, Sigma Mineração, also came under scrutiny. A 2021 technical review identified flaws in the company’s Environmental Impact Study for the Grota do Cirilo project, particularly concerning water management in Araçuaí and Itinga, the MPF said. Two planned open pits could affect the Piauí stream, the main water source for residents and rural communities, especially during dry seasons. “If the ANM does not comply with the recommendation, the MPF may adopt other administrative and judicial measures,” it said. Atlas and Sigma did not respond to requests for comments at the time this article was posted.

An expert crypto trader shares a strong view on Dogecoin and the broader market, saying conditions look very favorable right now. In their view, momentum is building for the Dogecoin price, and this is not a trend that traders should ignore. The trader warns that the current chart is one “you don’t want to fade.” Dogecoin ETF Launch In The U.S. Market Boosts Dogecoin Price The first reason the trader gives for their optimism is the imminent launch of the first Dogecoin Exchange-Traded Fund in the United States. The Dogecoin ETF goes live on September 11, 2025. By having an ETF in the U.S., the memecoin is gaining new legitimacy and stronger recognition from traditional investors, making participation much easier. When a new financial product enters the market, it typically attracts new capital from investors, resulting in increased trading activity and more pronounced, noticeable price movements. For Dogecoin, the trader says, this could mark the start of a new phase of adoption. With greater access to Dogecoin through an ETF, liquidity could deepen, and price moves could become stronger. By listing in the U.S. market, Dogecoin gets a stamp of approval that could spark fresh momentum. The expert makes it clear that this is one reason the coin’s outlook looks “very good” right now. In their view, it signals that Dogecoin is moving into a different category of investment. What started as a meme coin is now entering the mainstream finance sector. With an ETF available, Dogecoin now stands alongside more established assets, which could alter its valuation. Rate Cuts And Altcoin Strength Add To Dogecoin Price Bullish Outlook The second reason for the expert’s bullish view is the broader macroeconomic conditions. They note that rate cuts will begin in about a week. When interest rates decline, risky assets like cryptocurrencies often become more attractive, as investors shift away from low-yield options and seek opportunities to earn higher returns. At the same time, the expert observes that several altcoins are starting to recover. When altcoins rise in tandem, the entire market appears healthier and more stable. According to the expert crypto trader, this momentum could help maintain the bullish outlook for the Dogecoin price. The expert stresses that Dogecoin’s chart is not one to fade right now. In other words, ignoring the setup could mean missing one of the strongest opportunities in the current crypto market. They believe the mix of an ETF launch, economic support from rate cuts, and fresh strength in altcoins makes this one of the most positive moments for Dogecoin in a long time. With these combined factors, the trader remains firm in their outlook: Dogecoin looks very promising, and the momentum is genuine.

UK GDP stagnated in July 2025 (0.0% m/m), confirming an economic slowdown - however, on an annual basis the economy was 1.4% larger than a year earlier.Services and construction supported growth, while manufacturing weighed on the economy – with sharp declines in metal products, transport equipment, and computers & electronics.GBPUSD is at a key technical level, with the future direction likely to depend on monetary policy divergence between the Fed and the Bank of England – US rate cuts could support the pound.UK economy standstill In July 2025, the UK economy came to a standstill, with monthly GDP growth recorded at 0.0%, following a 0.4% increase in June and a 0.1% decline in May. On a three-month basis (May–July compared with February–April), GDP expanded by 0.2%, marking a clear slowdown compared with previous periods, when growth reached 0.3% in June and as much as 0.6% in May. On a yearly basis, however, the picture remains positive: in July the British economy was 1.4% larger than a year earlier, while growth for the May–July period amounted to 1.2% compared with the same period in 2024. Contributions to three-month GDP growth in UK, July 2024 to July 2025, source: Office for National Statistics A sectoral breakdown shows that services remained the main driver of growth, expanding by 0.1% m/m and 0.4% on a three-month basis. The strongest contributions came from transportation and storage (+1.4%) and health and social care (+0.4%). These gains were partly offset by a decline in the information and communication sector (-0.7%). Construction activity increased by 0.2% m/m and 0.6% in the three-month period, supported mainly by infrastructure investment (+2.1%) and private housing repair and maintenance (+3.8%). Manufacturing, by contrast, weighed heavily on overall growth, falling by 0.9% m/m and 1.3% over the three-month period. The steepest declines were recorded in metal products (-2.7%), transport equipment (-1.4%), and computers and electronics (-7.0%). These figures highlight the sector’s persistent weakness, reflecting both domestic demand constraints and challenges in international trade. GBPUSD important ressistance - Fed decision next week GBPUSD, Daily timeframe, source: TradingView On the currency market, GBPUSD is at a technically significant point. At the end of July, the pair formed a head-and-shoulders pattern and broke below the neckline, a signal that typically suggests a trend reversal and potential downside toward 1.2880. Although this target has not yet been reached, the 1.3583 area – corresponding to the right shoulder of the pattern – has proven to be a very strong resistance. Moreover, during the corrective decline, an inverse head-and-shoulders pattern emerged, with the neckline falling in exactly the same region. If the price breaks through the aforementioned resistance, there is potential for it to reach as high as 1.40 on GBPUSD. The overlap of these signals highlights the importance of this level for the future direction of the “cable.” From a fundamental perspective, potential gains in GBPUSD may be supported by expectations of three interest rate cuts in the United States before the end of the year. Such a scenario would weaken the US dollar and increase the relative attractiveness of the pound, particularly if the Bank of England maintains a more cautious stance on monetary policy. Probability of rate cuts based by FED funds futures, source: CME Fed Watch Tool Services and construction support economy Furthermore, if the UK economy manages to sustain positive annual growth despite monthly stagnation, investor confidence in the pound could strengthen further. In summary, the July data show a slowdown in UK economic momentum and an uneven recovery across sectors. Services and construction remain pillars of growth, while manufacturing continues to drag on GDP. In the FX market, the key technical level on GBPUSD will determine the next major move, with monetary policy divergence between the US and the UK likely to play a decisive role. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Should I continue investing aggressively if I won’t spend all my wealth? Many retirees with substantial savings face an unusual choice. If you know you will never spend all your wealth, should you keep investing aggressively in retirement, shift toward balance, or focus on preservation? The best answer depends on your goals, your tolerance for risk, and the legacy you want to leave. Executive Summary Investing aggressively in retirement can grow wealth for heirs or charities, but it also brings volatility. On the other hand, a conservative approach offers stability yet limits growth. A balanced strategy—covering essential expenses with safe assets and letting the rest compound—often provides the best mix of peace of mind and long-term impact. Taxes, estate planning, and your comfort with uncertainty should guide your choice. Why This Decision Matters For decades, retirement planning has focused on not running out of money. However, many high-net-worth retirees already have more than enough. For them, the question shifts from survival to stewardship: how should extra wealth be managed to create lasting value? This matters because: Security: Even with surplus wealth, poor risk management can create unnecessary stress. Legacy: How you invest affects what heirs or charities will actually receive. Efficiency: Taxes and inflation can erode wealth if not planned for properly. Clarify Your Goals First Before deciding whether to keep investing aggressively, define what success means to you. For example, some retirees focus on: Security: Making sure they never outlive resources. Legacy: Passing meaningful wealth to children or grandchildren. Philanthropy: Funding causes or charities that reflect their values. Growth: Continuing to expand their estate simply because they enjoy building it. Once your goals are clear, it becomes easier to align your investments with what truly matters. The Case for Staying Aggressive Investing aggressively in retirement often means holding more equities, private equity, or real estate. This strategy can be appealing for several reasons: Long-term growth: Over 1928–2024, U.S. large-cap stocks returned about 9–10% annually, outpacing bonds and cash. Inflation defense: Equities do not hedge inflation in the short term, yet they tend to beat inflation over long periods. Wealth maximization: If heirs or charities will not use the money for decades, compounding has time to work. Consider an example. If $5 million compounds at 7% a year, it becomes about $10.5 million in 11 years. Since you may not need to touch the money, this growth could significantly increase your legacy. The Risks of Aggressive Investing However, every advantage comes with trade-offs. Aggressive portfolios expose retirees to the following risks: Volatility: Equity markets can fall 20–40% in recessions. Watching your portfolio shrink can create stress, even if daily living is secure. Sequence of returns risk: If withdrawals happen during a downturn, losses compound quickly. Legacy uncertainty: A bear market late in life can reduce what heirs or charities ultimately receive. For instance, a $3 million portfolio with 80% in equities that loses 30% in a downturn suffers a $720,000 decline. That reduction can shrink growth potential even if you do not rely on the funds for income. The Balanced Middle Ground Fortunately, you do not have to choose between extremes. A balanced approach protects near-term spending while still allowing surplus wealth to grow. A common framework looks like this: Secure the foundation: Hold enough cash and high-quality bonds to cover 10–12 years of core expenses. For example, two years in cash plus eight to ten years in Treasuries or investment-grade bonds. Invest for growth: Keep the rest in equities, real estate, or other long-term assets. Review and rebalance: Adjust allocations every few years or after major life changes. Portfolio Approaches in Retirement: What Each One Emphasizes Approach Typical Mix (Illustrative) Main Goal Strengths Trade-offs Best For Aggressive 70–90% equities / growth Maximize long-term growth Highest compounding potential over decades Higher volatility; larger drawdowns Surplus wealth earmarked for heirs/charity Balanced 50–60% equities; 40–50% bonds/cash Blend stability and growth Smoother ride; fewer forced sales Lower upside than all-equity Most retirees seeking peace of mind Conservative 20–40% equities; 60–80% bonds/cash Preserve capital and income Predictable cash-flows; low volatility Limited growth; inflation risk over time High stress aversion; near-term spending As a result, your lifestyle is insulated from market shocks, while long-term wealth still compounds. A 50/50 or 60/40 portfolio often achieves this balance. Historically, blended portfolios have softened losses compared to all-equity strategies while still producing real growth. Tax and Estate Considerations Investing aggressively in retirement affects more than portfolio returns. Tax and estate rules play a major role in outcomes: Step-up in basis: Most inherited non-retirement assets receive a step-up to fair market value at death, reducing capital-gains taxes. Retirement accounts do not. Charitable strategies: Donor-advised funds allow deductions up to 60% of AGI for cash gifts and 30% for appreciated assets. Charitable remainder trusts must distribute 5–50% of annual value to beneficiaries, with the rest going to charity. Estate tax limits: In 2025, the federal exemption is $13.99 million per person. Without new law, it will fall by about half in 2026. Estate & Charitable Tools: How They Affect Your Legacy Tool What It Does Tax Treatment Control / Flexibility Who Benefits When It Helps Most Step-Up in Basis (at death) Resets basis of non-retirement assets to fair market value Can reduce heirs’ capital gains on later sale Automatic under current law; not for IRAs/401(k)s Heirs Highly appreciated taxable assets held until death Donor-Advised Fund (DAF) Front-loads a charitable gift; grant over time Deduction generally up to 60% AGI (cash) / 30% (appreciated) High—timing of grants is flexible Charities High-income years; appreciated stock gifts CRUT (Charitable Remainder Unitrust) Pays you/beneficiaries annually; remainder to charity Immediate partial deduction; spreads gains Moderate—payout set (5–50%); remainder locked to charity You (income) & Charity (remainder) Low-basis assets; desire for lifetime income + legacy Direct Bequest via Will/Trust Transfers assets to heirs or charities at death Subject to estate/inheritance rules; step-up may apply High—design terms, timing, and protections Heirs and/or charities Broad legacy goals; need for custom control Failing to align investments with estate planning can cost heirs. The federal estate tax rate tops out at 40%, and several states add their own estate or inheritance taxes. When Conservatism Wins There are also times when conservative allocations make sense: You value predictability and dislike watching large swings in your balance. You expect high healthcare costs or family obligations. You prefer giving during your lifetime rather than maximizing compounding after death. In these cases, stability itself becomes the return. A conservative mix may yield less, but it can reduce stress and create confidence in your plan. Checklist: Should You Invest Aggressively? Ask yourself the following questions: Do I need portfolio growth for my lifestyle, or only for legacy? Would a 30% market drop affect my peace of mind or spending? Am I willing to let heirs or charities bear market risk? Have I updated my estate plan to match current rules? Can I stay disciplined when markets fall? Key Takeaways Investing aggressively in retirement can grow wealth for heirs but brings volatility. Cover near-term expenses with safe assets and invest the rest for long-term goals. Taxes, estate laws, and the 2026 exemption change are just as important as returns. Your comfort with risk should guide allocations as much as your net worth. Review your plan regularly and adjust with discipline, not emotion. Action Steps Clarify whether your top priority is lifestyle, legacy, or philanthropy. Run a stress test on your portfolio to model downturns. Secure at least 10 years of expenses with cash and bonds. Invest surplus funds in equities and other growth assets. Work with an estate attorney and tax advisor to reduce future taxes. The post Should I continue investing aggressively? first appeared on American Bullion.