For this week’s Trading Take, Beimnet Abebe (Galaxy Trading) and Alex Thorn (Galaxy Research) discuss gold’s recent strength, considering factors such as global diversification away from U.S. assets, fiscal expansion, and questions about Fed credibility. They compare this performance with Bitcoin’s recent consolidation, exploring whether adoption cycles, positioning, and market structure may help explain crypto’s rangebound behavior despite its long-term thesis. 

The conversation also touches on the U.S. government shutdown, how markets have historically reacted to similar episodes, and what this could indicate about the broader state of U.S. fiscal and political stability.