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In Week 41 of 2023, Ether (ETH) fell by 3.2% to around $1,581, while Bitcoin (BTC) remained stable at $27,880. The NASDAQ index decreased by 0.2%, closing at $13,407, and the S&P 500 increased by 0.4% to $4,328.
Year-to-date, BTC and ETH outperformed equities, with BTC up by 69% and ETH up by 32%, while NASDAQ gained 29%, S&P 500 increased by 13%, and iShares STOXX EU 600 was up by 4%.
US CPI for September stood at 3.70%, matching the Fed of Cleveland's expectations. Core CPI decreased from 4.3% to 4.1%, below the Fed's projections.
The Fed expected core US CPI to reach 3.7% by year-end 2023 and 2.6% in 2024, with a return to the 2% target by 2026.
The focus in the cryptocurrency market is on potential Bitcoin ETF approvals, with the SEC's decision supporting this. Watch for the FED and ECB monetary policy meetings and the US CPI figures for October 2023. Market sentiment is "Neutral."
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