Circle launched the public testnet of Arc, a Layer 1 blockchain designed for global payment infrastructure using digital dollars, on October 28. BlackRock, HSBC, and Absa are participating as design partners in the testing phase. The network extends beyond payments to include on-chain foreign exchange and capital markets tokenization capabilities.

Gold declined 6% this week following a 30% rally since August, lifting the BTC/gold ratio by 8%. Bitwise Chief Investment Officer Matt Hougan suggests Bitcoin could replicate gold's 2025 price pattern once long-term holder selling exhausts. The analysis points to potential ETF inflow shifts favoring BTC if gold's pullback continues.