Market Digest — November 08, 2026

Today's markets are shaped by bearish sentiment. Here's what you need to know.

💱 Forex

1. **US Dollar Price Forecast: DXY Eyes 102.08 as EUR/USD, GBP/USD Await US NFP** The market is in wait-and-see mode ahead of the US Non-Farm Payrolls report, with the dollar index targeting the 102.08 level. A strong NFP print would confirm US economic resilience and push DXY higher, pressuring EUR/USD and GBP/USD downward; a weak print triggers the opposite.

2. **US Dollar Price Forecast: DXY Eyes 101.10 as GBP/USD Tests 1.3500 Ahead of BoE** GBP/USD is testing the key 1.3500 handle ahead of the Bank of England decision. A hawkish BoE could break GBP higher and drag DXY toward 101.10, while a dovish hold reverses sterling's gains — high volatility risk in UK assets today.

3. **Dollar Gains on US Economic Strength and Hawkish Fed** The greenback is supported by resilient US data and a Fed signaling rates stay higher for longer. This sustains demand for USD across the board and keeps carry-trade flows favoring the dollar, especially vs lower-yielding currencies.

4. **US Dollar Price Forecast: DXY Holds 101.54 as EUR/USD, GBP/USD Face US Elections/Midterms** Political developments in the US (election/midterm results) are adding volatility to dollar crosses, with DXY consolidating around 101.54. Pro-growth or gridlock outcomes tend to be mildly USD-supportive; watch for fiscal policy headlines.

5. **Binance CFO Kaiser Ng Steps Down, Justin Yek Named New Finance Chief** A leadership change at the world's largest crypto exchange adds uncertainty during an already sensitive regulatory period. Minor headline risk for crypto markets (BNB and major coins); monitor for any follow-up on compliance or financial reporting changes.

🪙 Crypto

1. Bitcoin Has Traded at a Discount on Coinbase for 61 Straight Days BTC has been priced below global spot benchmarks on Coinbase for over two months, signaling persistent weak demand from U.S. investors — the largest source of institutional capital. Continued discount pressure suggests ETF inflows and domestic buying are stalling, a bearish signal for near-term price momentum.

2. Weekly Wrap: Bitcoin Falls as U.S. Market Crashes Bitcoin declined alongside a sharp sell-off in U.S. equities, confirming the ongoing tight correlation with risk assets. If macro conditions deteriorate further, BTC could see additional downside as liquidity tightens.

3. Core Scientific Is Quitting Bitcoin Mining as It Now Makes About 92% of Its Revenue Renting to AI Customers A major U.S. miner is exiting BTC mining to focus on AI infrastructure, reflecting a sector-wide shift of capital and compute toward AI. This reduces mining-sector investment in BTC but highlights the growing overlap between crypto and AI data center demand.

4. AI Stocks Are Falling; Bitcoin Is Holding Ground BTC is showing relative resilience as AI equities correct, a potential early sign of capital rotation into crypto. If this divergence continues, Bitcoin could attract defensive flows — though a broader tech slump would likely drag it lower.

5. Binance CFO Kaiser Ng Steps Down; Justin Yek Named New Finance Chief Binance is undergoing another key executive change amid ongoing regulatory pressure. Leadership turnover at the world's largest exchange adds short-term uncertainty, but continuity in the CFO role limits direct market impact.