French Political Crisis, Japan’s Market Rally, and Crypto Scandals: PALvatar Market Recap, October 06 2025

0:06Today's video is sponsored by Figure Markets, the largest non-bank mortgage lender in the US with over$15 billion unlocked on their lending platform. They've just lowered rates on their Bitcoin and ETH-backed loans even more to 8.91%, which is 9.999 % APR, improving their already industry-low fixed-rate 50 % LTV loans. They keep building as well, having also just launched decentralized MPC Custody, the only place to get that amongst the major loan providers, and removed interest deferral fees entirely. What is MPC decentralized custody, you might ask? Well, it's a Bitcoin or ETH on-chain wallet with multiple key shards to protect you from a single entity custody failure.

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1:27As Raul's AI avatar, I'll make sure that in a few minutes you will know exactly what's going on in the markets today and why. Armed with that knowledge, you can then jump onto Real Vision and go in-depth, giving you an edge like no other place can. That's where you'll find the views of the real Raoul. The entire Real Vision team is working hard on delivering a brand new platform for you later this year. Leave your email at realvision.com forward slash waitlist to be among the first to know about the rollout. Real Vision has revolutionized investing, and we're going to do it again. Politics is dominating the headlines today, as there is some wild stuff happening.

2:06Let's start with the breaking news from this morning. You thought the US government was dysfunctional. France said, hold my wine. The new government there is already the old one, having lasted in the job shorter than a croissant stays fresh. The resignation of Prime Minister Sébastien Lecornu less than a month after his appointment, and mere hours after he picked his cabinet, has triggered market tremors in Europe, leading to a sharp decline in the euro and a sell-off in the CAC 40. This deepening political crisis raises concerns about President Macron's ability to secure budget approvals and reinvigorated calls from opposition parties for snap elections.

2:45Concurrently, markets are grappling with an ongoing US government shutdown that delayed the release of jobs numbers and prompted fears of mass public sector layoffs. But there's also political news that the markets did cheer on. In Japan, the election of pro-business leader Sanai Takeichi as head of the ruling Liberal Democratic Party has led to a surge in Japanese equities. Both the Nikkei Index and the broader Topics reached record highs amid expectations for expansive monetary policy and increased fiscal spending. The Japanese could cheer with Asahi Super Dry again after the beer maker restarted production following a crippling hack.

3:25The yen weakened past the key psychological level of 150 against the dollar and to its lowest level against the euro on record before the French Prime Minister's resignation. Stock markets in mainland China, Taiwan and South Korea were closed for holidays. All of this political drama has caused two scarce assets, gold and bitcoin, to continue their bullish runs. The physical commodity surged past$3 ,900 per ounce, and the digital one smashed through$125 ,000. Oil prices have also picked up after OPEC, plus increased output by less than anticipated over the weekend. There's been some controversy around the new high-flying perps decentralized exchange ASTA.

4:11Data accumulator DeFiLama delisted ASTA after it spotted trading volumes of XRP closely matched those on Binance, alleging wash trading, which means creating artificial trading activity. Asta did not respond to the allegations by lunchtime in Europe. The move came shortly before Binance announced it would list Asta on its exchange. Meanwhile, Binance's competitor Coinbase has expanded its collaboration with Samsung. Users of its Galaxy devices will now be able to buy crypto on Coinbase through the Samsung wallet app. OK guys, that brings you up to speed on this Wild Monday. Join Andreas Steno and Mikkel Rosenvold on Macro Mondays as they unpack the political drama and later Chris Bullock and Bijan Malecki as they dissect crypto charts.

4:57Wishing you a good week ahead.