The United Nations’ annual climate conference, COP30, began on Monday in Brazil, marked by the notable absence of the United States. In an unprecedented political move, Washington sent no high-level representation to the conference, which is considered the largest and most important international event of its kind. The absence comes after the Trump administration’s decision to withdraw from the Paris climate agreement. And as the world’s largest economy pulls back from decarbonization and clean-energy initiatives, the rest of the world continues advancing at a rapid pace.

Many experts believe that the U.S. shift away from expanding clean-energy projects opens the door for competitors—chief among them China.

Although Chinese President Xi Jinping will not attend COP30, China’s presence and influence will be strong. A report by Semafor stated that “the summit will highlight the scale of progress China’s clean-tech industry has made in Latin America,” adding that “Brazil has chosen Chinese electric vehicles to transport participants, signaling that the world is moving forward even without American political and technological leadership.”

This assessment appears accurate. Globally, the world continues to achieve historic gains in deploying renewable energy and expanding electrification efforts, as renewables this year surpassed coal as the largest source of electricity generation worldwide in a historic milestone. China alone has added 300 gigawatts of solar and wind capacity since the start of the year—nearly five times the United Kingdom’s entire renewable capacity.

And it is not limited to China, Europe, and wealthy nations. A growing number of developing countries—across South America, Africa, Southeast Asia, and the Middle East—are now among the fastest-growing adopters of clean energy.

This is driven by the changing economics of renewables, especially the falling cost and large-scale availability of solar technologies. Thanks to a flood of cheap Chinese-made solar panels and wind-turbine components, countries like Brazil, Chile, El Salvador, Morocco, Kenya, and Namibia have surpassed the United States in their clean-energy trajectories. According to Yale Environment 360 estimates, about 63% of emerging-market energy systems in Africa, Asia, and Latin America rely on solar power for electricity generation to a greater extent than the United States.

CNN notes that “some countries are undergoing rapid and striking energy transitions, adding solar power at a pace that has made it a major source of electricity within just a few years—not decades.” A standout example is Pakistan, which has become “one of the largest new adopters of solar energy” in an exceptionally short period.

Jan Rosenow, head of the energy program at Oxford University’s Environmental Change Institute, told NPR this year: “We have never seen solar deployed at this scale and within such a short timeframe anywhere in the world.”

This massive shift would not have been possible without the steep decline in wind and solar technology costs—and that decline would not have occurred without China’s large-scale manufacturing. Lars Nitter Havro, head of macro energy research at Rystad Energy, told CNN: “The world is now reaping the benefits of this expansion, enabling emerging economies to seize the opportunity and leap into the new energy era.”

China’s large-scale and cost-effective clean-energy manufacturing has strengthened its near-total dominance over global clean-energy supply chains and expanded its influence in emerging economies worldwide. It also remains the single factor keeping decarbonization achievable for many countries after other transition-finance plans—including unfulfilled climate-finance pledges—failed to deliver.

U.S. stock indexes fell during Friday’s trading amid heavy pressure and broad selling on Wall Street, particularly in the technology sector.

Speculation and uncertainty surrounding Federal Reserve policy returned to the forefront as concerns grew over the expected size of the rate cut at the upcoming December meeting.

According to the CME FedWatch tool, the probability of a 25-basis-point Fed rate cut in December shrank to 53.6% from 94.4% a month ago, while the probability of no change rose to 46.4% from 5.5%.

Early on Thursday morning, the U.S. House of Representatives voted in favor of the temporary funding bill, which was then signed by President Donald Trump, immediately ending the government shutdown that had lasted from early October until Wednesday.

In market trading, the Dow Jones Industrial Average fell 0.7% (360 points) to 47,094 points by 15:43 GMT, the broader S&P 500 slipped 0.2% (10 points) to 6,727 points, while the Nasdaq Composite rose 0.1% (13 points) to 22,884 points.

Copper and aluminum retreated from their weekly gains after China’s economic activity slowed more than expected in October, weighing on demand expectations in the world’s largest metals consumer.

Government data released on Friday showed that slower growth in China’s industrial production last month, combined with an unprecedented drop in investment, added to pressures stemming from weak consumption. The disappointing figures pushed both metals toward their first daily decline of the week.

Even so, copper remains on track for weekly gains of about 1% in London. Prices of the industrial metal have risen more than 20% this year, supported by a series of production disruptions and trade-related obstacles linked to potential U.S. tariffs on refined copper. On the supply side, there was some relief on Friday as Freeport-McMoRan resumed part of its operations at the Grasberg copper mine in Indonesia, after large-scale activities there were halted in September following a fatal accident.

As for aluminum, it stayed slightly higher on the week, supported by concerns that Chinese smelters are approaching the government-imposed capacity ceiling, which could limit supply growth. China’s aluminum output reached 3.8 million tons in October, down 9% from September, according to Friday’s data.

Copper fell 0.8% to 10,865 dollars per ton on the London Metal Exchange as of 9:20 a.m. local time, while aluminum dropped 1.5% to 2,854.50 dollars per ton.

Bitcoin plunged to around 97,000 dollars today after falling sharply below the key 100,000-dollar level in a broad wave of risk aversion. The price hit an intraday low near 96,841 dollars, the weakest since May. The cryptocurrency has lost more than 23% compared with the record high it reached last month above 126,000 dollars. The decline came as traders reduced their expectations for a Federal Reserve rate cut in December, while delays in key U.S. economic data added to uncertainty, prompting investors to exit high-risk assets.

Although Bitcoin remains up about 5% since the start of the year, it is still far from the election-driven rally that lifted it more than 40% since late 2024. Selling pressure remains heavy for the third consecutive week. Institutional inflows have weakened again. Long-term wallets sold more than 815,000 bitcoins over the past month. Options-market moves pointed to rising market concerns.

Demand has surged for bearish hedging instruments around the 95,000- and 90,000-dollar levels. Traders are watching the 98,000-dollar mark closely as it may act as a trigger for a sharper decline. Technical signals have also weakened, with the 200-day exponential moving average stabilizing near 108,000 dollars, while the 50-day EMA is approaching a potential bearish crossover. Altcoins dropped sharply, with Ethereum falling more than 9%, Solana more than 8%, XRP about 7%, and Dogecoin nearly 7%. Pressure also increased from broader markets.

U.S. equities posted their worst decline in more than a month; the Dow Jones fell 1.65%, the S&P 500 dropped 1.66%, and the Nasdaq slipped 2.29%. Traders reassessed monetary-policy risks as inflation fears resurfaced. Crypto markets lost momentum. Attempts to rebound above 101,000 dollars failed again as buyers were unable to hold gains.

Some accumulation activity has returned, as large wallets added more than 45,000 bitcoins this week. Even so, a temporary rebound remains possible if U.S. activity normalizes and the delayed economic data is released. But bearish-leaning analysts warned that a clear break below 98,000 dollars could open the way toward the 80,000-dollar level.

Bitcoin price today drops below 100,000 dollars as rate-cut expectations fade

Bitcoin fell sharply on Friday as high-risk markets weakened. The world’s largest cryptocurrency dropped to a six-month low, breaking below the key 100,000-dollar threshold. The decline came as market expectations for a Fed rate cut in the December meeting weakened, adding pressure on crypto assets, with many major tokens recording notable losses.

Bitcoin traded near 97,067 dollars, down 2.63%. The price touched an intraday low of 96,841 dollars, the weakest since May 2025. The cryptocurrency has now lost more than 23% compared with its all-time high above 126,000 dollars a month ago. Despite the decline, Bitcoin remains up about 5% since the start of the year and more than 40% since the U.S. 2024 elections.

The drop came amid a sharp decline in global risk appetite, as investors reassessed the Fed’s ability to justify monetary easing given delays in major U.S. economic reports. The uncertainty pushed traders into defensive positions and led to outflows from crypto products.

Bitcoin price outlook: Can it recover before the Fed’s December meeting?

The price setup for Bitcoin ahead of the Fed’s December meeting appears cautious with a bearish tilt, amid key technical levels closely watched by the market. The price is currently holding below the psychologically important 100,000-dollar level, which represents a major support zone. Traders say a break below 98,000 dollars could open the door to a deeper correction toward 80,000 dollars, based on historical volume areas.

Momentum indicators have turned negative, with the 50-day EMA approaching the 200-day EMA from above. A “death cross”—where the 50-day average falls below the 200-day—would signal accelerating bearish momentum and typically points to extended downtrends. The 200-day average sits around 108,000 dollars, a major resistance level that Bitcoin has failed to overcome this year.

Despite the short-term bearish pressure, some analysts expect a potential recovery and near-term upside. Certain estimates suggest Bitcoin could rise above 115,000 dollars by mid-November and later exceed 130,000 dollars if support levels hold and positive catalysts emerge, such as easing signals from the Fed or a return of liquidity to markets. Immediate support is concentrated around the 104,000–106,000-dollar range, a level that previously formed a strong floor. If the price stabilizes there, it may consolidate before attempting a breakout as December approaches.

Market sentiment may improve as U.S. government operations return to normal and delayed economic data begins to flow. Some traders expect liquidity to strengthen if the Fed confirms easing plans later in the year. Accumulation data also shows renewed buying interest from large investors who purchased about 45,000 bitcoins over the past week.

For now, rallies continue to lose momentum quickly. Conditions remain fragile, and recovery depends heavily on economic signals in the coming weeks. Until rate-cut expectations stabilize again, Bitcoin is likely to continue trading with volatility around key support zones.