JPMorgan strategists said in a note Thursday that Bitcoin and gold could see significant gains if former President Donald Trump wins the upcoming U.S. election, as retail investors increasingly adopt the “debasement trade” by investing in these assets.

Oil prices stabilised on Thursday after rallying the previous day on stronger than expected U.S. fuel demand and reports that producer group OPEC+ could delay a planned output increase.

The U.S. dollar traded in tight ranges Thursday, as traders digested some mixed economic data ahead of the widely-watched payrolls report which closes out the week.

Microsoft predicted increased spending on artificial intelligence this quarter but slower growth in its cloud business Azure, signaling that big AI investments were not enough to keep pace with capacity constraints at its data centers.

Big tech including Microsoft (NASDAQ:MSFT) and Meta (NASDAQ:META) are stepping up spending to build out AI data centers in a rush to meet vast demand, but Wall Street is hungry for a quicker payday on the billions invested.

Erik Voorhees, ShapeShift CEO and founder of the Venice.AI project, has addressed the cryptocurrency community to hint that he expects Bitcoin to surge in all aspects soon, including price.