Bitcoin traders are once again eyeing the $70,000 mark, a level reached in June, following a broad sell-off in cryptocurrencies late last Friday, while funds steadily flow into U.S. exchange-traded funds (ETFs). A report from CoinShares indicates that last week saw $910 million inflows into digital assets, propelling the year-to-date inflows to $27 billion, nearly three times the record high set in 2021. The report also shows that Ethereum, the second-largest digital asset, experienced an outflow of $35 million last week, the largest among all assets. Options traders have also been increasing their bets that Bitcoin will reach a record high of $80,000 by the end of November.
**Stock News**
Ford (F.US) Diminishes Profit Outlook, Shares Fall After Hours. Ford Motor Company stated on Monday that it expects full-year profits to reach only the lower end of expectations, causing shares to drop by 5% in after-hours trading. Ford projected that its pre-tax profits for the year will be around $10 billion, rather than the previous range of $10 billion to $12 billion. Chief Financial Officer John Lawler stated that high warranty costs and supply chain issues have burdened Ford's operations this year, with recent hurricanes adding to the challenges. He also mentioned that increased competition from rivals producing affordable electric vehicles has hindered Ford's progress in reducing costs. However, the third-quarter profit decline was less than expected. The company reported a net profit of $900 million for the third quarter, or 22 cents per share, down from 30 cents in the same period last year. The cancellation of a three-row electric SUV in August, resulting in a $1 billion loss, impacted the performance.
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Apple Officially Launches Apple Intelligence, Releases New M4 iMac. Apple Inc. (AAPL.US) announced that Apple Intelligence is now officially available on iPhone, iPad, and Mac. Concurrently, Apple unveiled a new iMac model equipped with the M4 chip and Apple Intelligence. The new iMac starts at $1,299 (starting at 10,999 yuan in China), comes with 16GB of memory, and will be available on November 8th.