Daily market digest

25 September 2026 · 5 min read

25 September 2026: Treasury Yields Climb, Bitcoin Shines

Markets saw mixed movements with rising Treasury yields and a solid performance by Bitcoin.

Quick answer

Today, higher U.S. Treasury yields sparked caution among investors, while Bitcoin rallied 4.1% this week. Oil markets surged, boosting Brent crude by 3.41%.

Key takeaways

U.S. 10-year yield increased to 5.16%, up 0.94% today.
Bitcoin rose by 4.1% over the week, despite a daily decline of 0.2%.
Gold dropped 0.47% to $4,298, extending a monthly decline of 8.45%.
Nasdaq outperformed, increasing by 1.97% for the week.
USD/MAD appreciated by 1.32% over the week, reaching 9.602.

Market dashboard

S&P 500

7,704

-0.02%1-day change

Bitcoin

$84,216

-0.20%1-day change

Gold (oz)

$4,298

-0.47%1-day change

Brent crude

$106.60

+3.41%1-day change

EUR/USD

1.1373

-0.08%1-day change

USD/MAD

9.602

+0.15%1-day change

VIX (fear gauge)

15.7

+3.23%1-day change

Crypto Fear & Greed

71/100

Greed

The equity markets displayed mild fluctuations, with a negligible decline in the S&P 500 of 0.02%, while the Nasdaq Composite remained stable with a slight upward trend of 0.01%. In contrast, European equities, as represented by the Euro Stoxx 50, took a hit, falling by 0.43% amid broader geopolitical tensions and economic uncertainty.

Bitcoin stands out in the cryptocurrency arena, posting a weekly gain of 4.1% despite a minor daily drop of 0.2%. The crypto market sentiment remains bullish, supported by a high Crypto Fear & Greed index of 71/100. Meanwhile, Solana showed remarkable strength, increasing by 1.63% today and recording a substantial monthly growth.

In the commodities space, Brent crude surged by 3.41%, aligning with a bullish energy sentiment score of 83/100. Conversely, gold continued its downtrend, losing 0.47% today, reflecting investor preference for riskier assets. The US dollar maintained a firm stance against both the euro and Moroccan dirham, reflecting a high sentiment score of 94/100.

30-day performance, indexed to 100

Each market rebased to 100 at the start of the window, so moves are comparable on one axis.

S&P 500100.4
Bitcoin106.6
Gold (oz)91.55
Brent crude120.3

View data table

	S&P 500	Bitcoin	Gold (oz)	Brent crude
25 Aug	100	100	100	100
26 Aug	99.98	101.56	99.12	99.16
27 Aug	100.7	98.49	99.35	101.26
28 Aug	100.45	99.01	96.49	100.82
31 Aug	100.12	97.95	95.46	102.16
1 Sept	99.4	97.81	93.65	106.85
2 Sept	99.86	102.84	94.04	107.96
3 Sept	100.92	100.82	96.71	107.83
4 Sept	100.54	101.01	95.36	108.69
8 Sept	99.95	99.03	94.56	110.54
9 Sept	99.47	96.89	95.02	114.26
10 Sept	98.89	97.65	93.88	121.51
11 Sept	99.74	97.78	93.92	118.1
14 Sept	99.25	95.68	92.7	119.3
15 Sept	98.81	96.36	92.3	122.77
16 Sept	98.37	96.68	93.46	119.47
17 Sept	99.49	102.37	93.72	118.33
18 Sept	99.65	102.79	94.26	117.26
21 Sept	101.14	109.04	93.38	113.28
23 Sept	100.37	106.78	91.99	116.37
24 Sept	100.35	106.57	91.55	120.34

1-month change by market (%)

Brent crude+20.34%
Solana+14.37%
Ether+6.86%
Bitcoin+6.57%
USD/MAD+3.76%
Nasdaq Composite+3.01%
US dollar index+2.40%
EUR/MAD+1.19%
S&P 500+0.35%
EUR/USD-2.59%
Euro Stoxx 50-2.84%
Gold (oz)-8.45%

Today's market data — 25 September 2026

Today's market data — 25 September 2026

S&P 500	7,704	-0.02%	+0.87%	+0.35%	10.7
Nasdaq Composite	26,939	+0.01%	+1.97%	+3.01%	14.7
Euro Stoxx 50	6,273	-0.43%	-0.80%	-2.84%	12.4
Bitcoin	$84,216	-0.20%	+4.10%	+6.57%	43.1
Ether	$2,678	-0.24%	+2.56%	+6.86%	46.4
Solana	$116.8	+1.63%	+3.78%	+14.37%	70.5
Gold (oz)	$4,298	-0.47%	-2.31%	-8.45%	18.9
Brent crude	$106.60	+3.41%	+1.70%	+20.34%	42.7
US dollar index	101.29	+0.19%	+1.07%	+2.40%	4.9
EUR/USD	1.1373	-0.08%	-0.90%	-2.59%	3.9
USD/MAD	9.602	+0.15%	+1.32%	+3.76%	4.4
EUR/MAD	10.924	-0.29%	+0.56%	+1.19%	4.9
US 10-year yield	5.16%	+0.94%	+4.35%	+11.27%	16
VIX (fear gauge)	15.7	+3.23%	+1.49%	+1.42%	95.8

Crypto Market Faces Challenges Amid Regulatory and Security Issues

The digital assets sphere dealt with major regulatory and security developments. The New York State's legal action against Polymarket for allegedly operating without a gambling license represents heightened regulatory scrutiny. Meanwhile, Bitget faced a security breach affecting $352 million, yet reassures users of fund safety (CoinDesk, Cointelegraph).

These regulatory and hacker-related challenges come as the Fed proposed new rules for stablecoin issuers under the GENIUS Act. Such regulatory moves could soon reshape the landscape for cryptocurrencies, necessitating adaptive regulatory compliance (CoinDesk, Cointelegraph).

Watch for outcomes from New York's case against Polymarket.
Monitor further Bitget responses to the security breach.
Track Fed's upcoming stablecoin-related decisions.

Rising Treasury Yields Spur Market Caution

The sharp rise in U.S. Treasury yields to 5.16% places increased pressure on stocks and compels examination of inflation strategies. A 0.94% daily increase suggests expectations for tighter monetary policies which could affect global liquidity (CNBC Economy).

On geopolitics, the U.S.-China relations hold attention due to ongoing meetings between President Trump and Xi Jinping. China's willingness to cooperate on AI and the symbolic gesture of panda loans to Atlanta emphasize diplomatic overtures (CNBC).

Observe adjustments in global equity markets to rising yields.
Consider impacts of U.S.-China diplomacy on trade and tech sectors.
Evaluate inflation strategies amid tighter monetary policy.

Casablanca Bourse Declines Amid Global Trends

The Casablanca Bourse ended in the red, with the MASI index falling by 0.95%. This downturn aligns with global equity market hesitations as investors react to broader economic signals, such as rising U.S. yields and fluctuating global commodities (Hespress Économie).

Furthermore, Morocco's automotive and agricultural sectors enjoy relative advantages, given the country's competitive labor costs. The automotive industry's potential expansion provides a buffer against international economic pressures. Export growth, particularly in agriculture, aligns with sustainability efforts (Hespress Économie).

Monitor MASI’s reaction to rising treasury yields.
Evaluate gains from competitive Moroccan labor costs.
Watch for sustainability measures in Moroccan exports.

What it means for a saver in Morocco

The Moroccan dirham is experiencing pressure against the strengthening U.S. dollar, with USD/MAD rising by 1.32% for the week to 9.602. Meanwhile, EUR/MAD has decreased slightly by 0.29% today, reflecting broader euro weakness. These movements could slightly increase imported goods' costs, impacting inflation.

On the energy front, Brent crude's 3.41% daily increase may elevate Morocco's energy import costs, potentially affecting the trade balance. Additionally, with gold losing 0.47% today, Moroccan investors might reconsider safe-haven allocations as the global appetite shifts towards higher-yielding assets.

Market sentiment & outlook

65/100

Constructive

Overall risk appetite

Today's overall market sentiment reflects an appetite for risk, with a score of 65/100, driven by strong crypto performance and rising oil prices. If Treasury yields continue rising, equity markets may face pressure. Conversely, stabilizing yields could foster a risk-on environment.

Data as of 25 Sept 2026, 04:00 UTC

Global equities
57 · Leaning bullish
Equities exhibit cautious optimism amid high volatility, with a slight upward bias conditioned on stable yields.
- S&P 500's 0.87% weekly gain
- Volatility index (VIX) at 15.7
Crypto
72 · Leaning bullish
High sentiment with a risk-on bias as Bitcoin rises, driven by structural adoption and regulatory clarity needs.
- Bitcoin's 4.1% weekly gain
- Crypto Fear & Greed Index at 71/100
Gold & safe havens
11 · Bearish
Negative sentiment prevails as gold falls, with further declines as bond yields climb.
- Gold's 8.45% monthly drop
- Rising U.S. Treasury yields
Oil & energy
83 · Bullish
A bullish environment persists as crude maintains a strong upward trend, influenced by supply constraints.
- Brent crude up 20.34% this month
- Supply-side challenges
US dollar
94 · Bullish
The dollar is bullish with a strong upward trend, reflecting hawkish Fed expectations.
- U.S. Dollar Index's 2.4% monthly increase
- Fed rate hike expectations
Bonds (US Treasuries)
3 · Bearish
Under pressure as yields rise sharply, leading to capital outflows and price declines.
- US 10-year yield up 5.16%
- Inflation concerns
Casablanca Bourse & MAD
Qualitative read
No reliable index data today — read it through local headlines and the dirham's moves.

Who benefits

Cryptocurrencies — Strong adoption and speculative interest raise their appeal, bolstered by Bitcoin's recent gains.
Energy sector — Rising oil prices support profitability, aligning with a 20.34% monthly gain in Brent crude.
US Dollar — Higher Treasury yields and safe-haven demand lift the US dollar index by 2.4% this month.

Under pressure

Gold and Safe-Havens — Capital is moving out of safe havens as gold has declined significantly by 8.45% this month.
European Equities — Euro Stoxx 50 index's 2.84% monthly fall highlights ongoing geopolitical and economic risks.
Bond Markets — Rising yields detract from bond attractiveness as investors seek yield elsewhere.

Crypto Fear & Greed index — last 30 days

0 = extreme fear, 100 = extreme greed (alternative.me).

View data table

	Crypto Fear & Greed
26 Aug	65
27 Aug	71
28 Aug	73
29 Aug	68
30 Aug	69
31 Aug	62
1 Sept	69
2 Sept	63
3 Sept	65
4 Sept	74
5 Sept	73
6 Sept	73
7 Sept	71
8 Sept	69
9 Sept	66
10 Sept	69
11 Sept	56
12 Sept	63
13 Sept	61
14 Sept	57
15 Sept	69
16 Sept	51
17 Sept	50
18 Sept	56
19 Sept	71
20 Sept	71
21 Sept	70
22 Sept	78
23 Sept	71
24 Sept	71
25 Sept	71

Scenarios to watch

Scenarios to watch

Base case	Treasury yields stabilize near current levels.	Equities recoup losses as risk sentiment improves.
Bullish case	Rapid decline in Treasury yields as inflation fears subside.	Strong equity rally and increased appetite for risk assets.
Bearish case	Further significant rise in Treasury yields.	Equity markets correct further, with increased safe-haven flows.

Frequently asked questions

What is the current state of Bitcoin on 25 September 2026?

Bitcoin is priced at $84,216, posting a 4.1% weekly gain, suggesting positive investor sentiment.

Why have U.S. Treasury yields increased sharply today?

The U.S. 10-year yield rose 0.94% to 5.16% due to investor concerns about inflation and monetary policy.

How has the Moroccan dirham performed against major currencies?

USD/MAD rose by 1.32% this week, reflecting a stronger US dollar, while EUR/MAD saw less fluctuation.

How does the high oil price affect Morocco's economy?

Rising Brent crude prices, up 3.41% today, increase Morocco's energy costs, impacting the trade balance.