The biggest protests in more than a decade have erupted across Turkey following the arrest of Ekrem Imamoglu, the mayor of Istanbul and main rival of president Recep Tayyip Erdogan, on corruption charges. Erdogan, who has ruled Turkey for 22 years with limited checks on his authority, faces a potential challenge from Imamoglu, whose popularity could lead to a democratic transfer of power. The situation poses economic and political risks, with a currency sell-off and concerns about autocracy, as Erdogan navigates internal and external pressures to maintain control.
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Bitcoin, Ethereum, and Dogecoin Soar as "Risk On" Trade Continues
Investors are actively buying risk assets, including growth stocks, tech stocks, and cryptocurrencies, with Bitcoin (BTC) rising 2.9%, Ethereum (ETH) 5.1%, and Dogecoin (DOGE) 6.2% due to positive macroeconomic news, particularly expectations of de-escalation in the U.S.-China trade war. Bitcoin has shown to be a risk asset rather than a hedge, while Ethereum and Dogecoin face uncertainty regarding their long-term value, especially as Ethereum struggles with transaction costs and Dogecoin lacks fundamental use cases. Overall,...
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