CoinMeta data: The latest report from QCP Capital indicates that geopolitical incidents such as Houthi attacks on Riyadh airport have escalated, with traffic through the Strait of Hormuz dropping to 1 (with an average of 26). US SPR exports decreased by 30.5% year-on-year to 283 million barrels, exacerbating supply tensions. In terms of the US congressional elections, the probability of a Democratic Party landslide victory is 62–63%, with the Senate being a key battleground. French finances are under pressure, with a OAT-Bund yield spread of 152 basis points and debt accounting for GDP of 119%, with growth of only 0.4%. Credit spreads have accelerated, reaching Oracle CDS at 251.9 basis points, nearly twice that of AVGO (132.6 basis points). BTC momentum has weakened, with STRC repurchases (192.4 million US dollars) exceeding Strategy purchases, and cash levels dropping to 640.5 million US dollars. In September, US CPI exceeded expectations (3.7% overall, 2.6% for the core index), with energy prices rising by 5.2% and inflation remaining stubborn. QCP raises questions as to whether this will force further interest rate hikes or whether credit pressures will lead to a recalibration of policies.