According to Wu’s analysis, QCP highlighted that the recent debate between Donald Trump and Kamala Harris garnered significant attention this week. Harris, with the backing of Taylor Swift, saw her odds of winning slightly increase to over 50%, as shown by Polymarket data.

On the economic front, the Consumer Price Index (CPI) aligned with market expectations at 2.5%, while the Producer Price Index (PPI) was slightly below forecast at 2.4%. The market remains evenly split on whether the Federal Reserve will opt for a 25 or 50-basis point rate cut.

In the crypto space, Bitcoin exchange-traded funds (ETFs) saw renewed capital inflows, and MicroStrategy added 18,300 BTC to its holdings, bringing its total to 244,800 BTC. Additionally, the options market saw a sudden revival in interest for Ethereum (ETH), with over 20,000 contracts purchased, signalling renewed attention from investors.