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The global cryptocurrency market cap now stands at $2.25T, down by -1.91% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $68,615 and $75,407 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $73,765, up by 7.17%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include UNI, NEIRO, and SLF, up by 29%, 29%, and 25%, respectively. Top stories of the day: Bitcoin Shorts Liquidated as Price Hits $75K, Driven by Spot Demand Amid Trump Win Binance Tops Fortune’s 2024 Asia Fintech Innovators List in Blockchain and Cryptocurrency BlackRock's Bitcoin ETF Sees Sixth Ever Outflow on US Election Day as Bitcoin Hits New High Bitcoin Reaches New High of $75K as Trump Secures Victory in 2024 Election — Key Levels to Watch Donald Trump Wins 2024 Presidential Election, Defying the Odds with Historic Comeback Bitcoin Hits New Record High Above $75K as Election Betting Markets Favor Trump Solana Rally Gains Momentum as Traders Eye $200 Target Amid Bitcoin Surge Ether Traders Brace for Downside as ETH/BTC Hits Multi-Year Lows Bitcoin Hits New Record Above $75K as Trump Dominates Early Voting in U.S. Election Whale Liquidated for $74.98 Million After Bitcoin Reaches New All-Time High Nvidia Reclaims Top Market Value Position Amid Stock Surge Bitcoin Price Spikes 3.7% Amid U.S. Election Volatility Bitcoin News: Bitcoin’s Fair Value: Why BTC May Never Dip Below $60,000 U.S Elections 2024 News and Bitcoin Price News: Analysts Eye $120K as Key Metric Turns Bullish Market movers: ETH: $2622.2 (+7.55%) SOL: $184.13 (+13.49%) BNB: $581.26 (+3.75%) XRP: $0.534 (+4.44%) DOGE: $0.19826 (+18.28%) TRX: $0.1625 (+0.12%) ADA: $0.358 (+7.83%) TON: $4.743 (+4.06%) SHIB: $0.00001882 (+6.63%) WBTC: $73721.43 (+7.27%) Top gainers on Binance: UNI/USDT (+29%) NEIRO/USDT (+29%) SLF/USDT (+25%)

According to PANews, as of November 6, voting stations across several western states in the United States have closed, marking the commencement of the vote counting process. This development occurred at 11 p.m. local time on November 5, which corresponds to 12 p.m. on November 6 in UTC+8. The closure of these polling stations signifies the end of voting in most states, with the exception of Alaska and Hawaii, where voting is still ongoing. Additionally, polling stations in Washington D.C. have also closed, aligning with the majority of the country in transitioning to the counting phase.The closure of polling stations is a significant step in the electoral process, as it allows for the tallying of votes to determine the outcomes of various elections. The process is closely monitored to ensure accuracy and transparency, with results expected to be announced in the coming days. The closure of polling stations and the start of vote counting are crucial in shaping the political landscape, as they determine the elected representatives and the direction of future policies. As the counting progresses, attention will be focused on key races and the potential impact on both state and national levels.

According to BlockBeats, on November 6, Bohan Jiang, the head of over-the-counter options trading at Abra, expressed concerns regarding the potential impact of delayed or disputed U.S. election results on risk assets, including cryptocurrencies. Jiang highlighted that a scenario similar to the 2000 election, where the results remained uncertain for weeks, could lead to a sell-off in risk assets during this period. The uncertainty and volatility associated with such an event could persist until a definitive outcome is reached.Jiang's remarks underscore the sensitivity of financial markets to political events, particularly those involving significant uncertainty. The 2000 U.S. presidential election serves as a historical reference point, where prolonged uncertainty led to market instability. In the context of the upcoming election, market participants are likely to be cautious, as any delay or dispute in the election results could trigger a similar reaction. This potential for extended volatility highlights the importance of timely and clear election outcomes for maintaining market stability.

According to Odaily, recent data from Farside Investors indicates that Fidelity's FBTC experienced a substantial net outflow of $68.2 million yesterday. This development highlights a notable shift in investor behavior, reflecting broader market trends and potential impacts on the financial landscape.The outflow from Fidelity's FBTC is significant, suggesting a possible reevaluation of investment strategies among stakeholders. Such movements can often be attributed to various factors, including market volatility, changes in investor sentiment, or broader economic conditions. As investors navigate these dynamics, the financial sector may witness further fluctuations in capital allocation.This trend underscores the importance of monitoring market conditions and investor responses. As financial institutions and investors adapt to these changes, the implications for future investment strategies and market stability remain a focal point of analysis. The net outflow from Fidelity's FBTC serves as a reminder of the ever-evolving nature of financial markets and the need for strategic adaptability.

According to PANews, the Hong Kong Stock Exchange (HKEX) has disclosed plans to digitalize and automate the physical subscription and redemption mechanism for exchange-traded products (ETPs) through an online platform by 2025. This initiative is contingent upon the readiness of the system and obtaining regulatory approval.HKEX aims to integrate this platform into the primary market's subscription and redemption mechanism for ETPs. The platform will utilize Distributed Ledger Technology (DLT) and smart contracts to connect major ETP market participants. This integration is expected to enhance the overall efficiency of the ETP market and promote sustained growth in secondary market activities.Earlier this year, HKEX listed Asia's first inverse Bitcoin product. This inverse product, launched in July on the Hong Kong Stock Exchange, offers investors a new tool to capture Bitcoin price fluctuations. Additionally, with the listing of Asia's first six virtual asset spot ETFs in April and the previously listed three virtual asset futures ETFs, Hong Kong's virtual asset ETP offerings are becoming increasingly diverse.

On Nov 06, 2024, 01:02 AM (UTC), according to Binance Market Data, Ethereum (ETH) crossed the 2,500 USDT benchmark and is now trading at 2,500.620117 USDT, with a narrowed 4.27% increase in 24 hours.

According to Odaily, Nvidia, a leading player in artificial intelligence technology, saw its stock price rise nearly 3% on November 5, surpassing competitors Apple and Microsoft to regain its position as the world's most valuable company. Nvidia's stock increased by approximately 2.84%, bringing its market capitalization to $3.43 trillion. In comparison, Apple's market value stood at $3.38 trillion, while Microsoft's was $3.06 trillion.Apple's stock has yet to recover from a slump in late October, which was triggered by weaker-than-expected sales forecasts and disappointing fourth-quarter earnings. Similarly, Microsoft experienced one of its worst trading days in two years after lowering its performance expectations for the fourth quarter of 2024, and its stock has not yet bounced back.Meanwhile, Nvidia's stock has nearly doubled this year, driven by robust sales growth and the company's ongoing investments in accelerated computing and generative artificial intelligence.

According to Odaily, the minutes from the Bank of Japan's September meeting reveal a consensus among its members. They agreed that if economic and price forecasts align with expectations, the central bank will continue its policy of raising interest rates.The meeting underscored the importance of monitoring economic indicators closely to ensure that the current trajectory aligns with the bank's projections. Members emphasized that maintaining a flexible approach is crucial to adapting to any unforeseen changes in the economic landscape. The decision to persist with rate hikes is contingent upon the stability and growth of the economy, as well as the inflation rate meeting the bank's targets.The Bank of Japan's strategy reflects a broader trend among central banks globally, which are adjusting monetary policies in response to evolving economic conditions. The focus remains on achieving a balance between fostering economic growth and controlling inflation. As the global economic environment continues to shift, the Bank of Japan's commitment to its current policy path will be closely watched by market participants and analysts alike.

According to PANews, recent data from Coinglass reveals that the cryptocurrency market witnessed a significant liquidation event over the past 24 hours, totaling $229 million. This liquidation included $136 million in long positions and $92.51 million in short positions. Bitcoin (BTC) was notably affected, with a total liquidation amount of $66.77 million. Ethereum (ETH) also experienced substantial liquidations, amounting to $27.88 million. These figures highlight the volatility and rapid changes in the cryptocurrency market, impacting both long and short positions significantly. The data underscores the inherent risks associated with trading in the cryptocurrency market, where sudden price movements can lead to large-scale liquidations. Traders are advised to exercise caution and consider the potential for rapid market shifts when engaging in leveraged trading.

According to Cointelegraph: The latest market analysis indicates that Bitcoin's Market Value to Realized Value (MVRV) ratio is turning bullish, suggesting a potential price target of $120,000 by 2025. Bitcoin (BTC) reached $69,000 on U.S. election day, November 5, reinforcing the uptrend as the MVRV metric remains positive. With a 43-77% increase required for Bitcoin to hit $95,000 to $120,000, analysts are optimistic about BTC's long-term growth potential.Bitcoin’s Climb to Reclaim 2022 High Amid Election-Induced Market VolatilityCurrently attempting to reclaim its all-time high of $69,000, Bitcoin's price benefits from market interest and increased buying activity. The recent upward momentum indicates that the cryptocurrency is likely to reach new heights, with the potential for a market peak above the projected target, based on previous cycles. Analysts note that while Bitcoin (BTC) has seen significant gains, its MVRV indicator suggests there's room for further growth.Bullish Hash Ribbon and MVRV Indicators Support Bitcoin's Upward MomentumIndependent analyst Mags highlighted that Bitcoin’s hash ribbon printed a “buy” signal, suggesting that BTC could soon see a strong upward move. Mags’ recent analysis projected Bitcoin (BTC) could expand to $101,679, building on its support level of around $68,000. The price is currently held by the 20-day exponential moving average (EMA), supporting the ongoing uptrend.Strong Support at $68,000 and Future Growth PotentialData from CryptoQuant analyst CoinLupin shows Bitcoin (BTC) holding above the 20-day EMA, with the MVRV indicator signalling a market value twice the on-chain estimated value. The MVRV ratio recently surpassed its 365-day and 4-year averages, which often corresponds to an upward trend, with cycle peaks typically appearing when MVRV reaches between 3 and 3.6.Bitcoin's Path of Least Resistance Points UpwardAccording to IntoTheBlock data, the $66,700 to $68,730 range acts as strong support, with approximately 1.1 million BTC purchased by 2.5 million addresses within this price band. This indicates that Bitcoin (BTC) has strong backing at these levels, with limited resistance ahead, suggesting an easier path toward higher price targets.With bullish indicators and strong support levels, Bitcoin appears positioned for significant growth, with the potential to reach six figures as the MVRV ratio continues to rise.Read More:U.S. Election 2024: Potential Bitcoin Reactions to a Trump or Harris Victory BTC News and Price Prediction: What to Expect After the 2024 U.S. Election Trump's Rising Election Odds Boost Solana And Bitcoin Interest

As the U.S. gears up for the 2024 presidential election, analysts from Bernstein suggest that Bitcoin's price trajectory could be heavily influenced by the outcome. Currently valued at around $68,000, Bitcoin's future may swing dramatically depending on whether former President Donald Trump or Vice President Kamala Harris claims victory.Trump’s Pro-Crypto Position and Potential Bitcoin SurgeGautam Chhugani, leading Bernstein’s research, predicts a sharp rise in Bitcoin's value if Trump wins. Trump’s pro-crypto campaign and strong connections within the cryptocurrency sector, including figures like Marc Andreessen and the Winklevoss twins, could drive Bitcoin to new highs. Chhugani estimates a potential surge to $80,000-$90,000 within two months of a Trump victory, surpassing the March peak of $73,800.Correlation Between Bitcoin and Election OddsBitcoin’s price has shown a strong correlation with Trump’s electoral odds on blockchain-based betting platforms. When Trump’s odds peaked, Bitcoin also reached a seven-month high. Conversely, as Harris's chances improve, Bitcoin has seen declines, suggesting that investors are closely watching election developments.Cautious Optimism Leading Up to Election DayFollowing a recent peak of over $73,000, Bitcoin’s current price reflects market anticipation as investors brace for election outcomes. Analysts agree that the short-term sentiment surrounding Bitcoin is closely tied to the election, with traders considering the impact of each candidate’s stance on cryptocurrency.

According to Odaily, hackers involved in the breach of the cryptocurrency platform METAWIN have transferred 331 ETH, equivalent to approximately $800,000, into various wallets. The transfers were executed in batches of 13, 19, and 21 ETH each. This development follows a previous report indicating that METAWIN suffered a cyberattack resulting in a loss of around $4 million in assets.The incident highlights ongoing security challenges within the cryptocurrency sector, where platforms remain vulnerable to sophisticated hacking attempts. The transfer of funds into multiple wallets suggests an effort by the perpetrators to obfuscate the trail of the stolen assets, complicating recovery efforts. As the investigation continues, stakeholders in the cryptocurrency community are urged to remain vigilant and enhance security measures to protect against similar threats.The METAWIN hack underscores the importance of robust cybersecurity protocols and the need for continuous monitoring to detect and respond to potential breaches swiftly. As digital currencies gain popularity, the frequency and scale of such attacks are likely to increase, necessitating a proactive approach to safeguarding digital assets. The community is advised to stay informed about security best practices and collaborate on developing more resilient systems to mitigate risks associated with cyber threats.

According to PANews, a collaborative pilot project involving Swift, UBS Asset Management, and Chainlink has successfully concluded. The initiative utilized the Swift network to facilitate the settlement of subscription and redemption operations for tokenized funds. This pilot encompassed over 11,500 financial institutions across more than 200 countries and regions, employing fiat currency payment systems for digital asset transaction settlements. The project demonstrated how financial institutions can leverage blockchain technology, the Chainlink platform, and the Swift network to automate the settlement process for tokenized investment funds without requiring the entire payment process to be on-chain, thus enabling a seamless payment experience.The pilot was built on a partnership with UBS Asset Management and SBI Digital Markets, developing a digital subscription and redemption system for tokenized funds. Additionally, this pilot was part of the Monetary Authority of Singapore's Project Guardian. By utilizing Swift's existing payment system, the pilot achieved end-to-end payment functionality for fund subscription and redemption settlements. The new pilot, conducted in collaboration with the Chainlink platform, facilitated smooth interactions among all involved parties. Consequently, UBS's tokenized investment funds can automatically mint or burn fund tokens for investors.

According to BlockBeats, Google CEO Sundar Pichai sent an urgent company-wide email on Monday, emphasizing the importance of Google remaining a 'trusted source of information' regardless of the election outcomes. This communication follows claims by former President Donald Trump that Pichai personally called him to discuss the popularity of his search results and threatened to sue Google for alleged election interference.Major tech companies are reportedly easing the strict content moderation policies that were implemented starting in 2020. For instance, YouTube now permits allegations of election fraud, while Meta has reduced the visibility of political content. These changes come amid accusations of bias, with Silicon Valley appearing to focus on avoiding conflicts with Trump supporters. The shift in content moderation strategies reflects a broader trend among tech giants to navigate the complex landscape of political discourse and public perception, especially in the context of ongoing debates about misinformation and platform responsibility.

According to Odaily, a report released by Scam Sniffer on the X platform reveals that in October, approximately 12,000 individuals fell victim to cryptocurrency phishing scams, resulting in losses totaling $20.2 million. This marks a significant change from September, with a 56% decrease in the amount of stolen funds. However, the number of victims saw a 20% increase during the same period.The report highlights a concerning trend in the cryptocurrency sector, where the number of individuals targeted by phishing scams continues to rise, even as the total financial impact appears to lessen. This suggests that while fewer funds are being stolen, more people are being affected by these fraudulent activities. The increase in victim numbers indicates a growing need for heightened awareness and improved security measures among cryptocurrency users to protect themselves from such scams.The data underscores the importance of vigilance in the digital currency space, where phishing scams remain a prevalent threat. Users are advised to exercise caution and verify the authenticity of communications and transactions to safeguard their assets. As the cryptocurrency market evolves, staying informed and adopting robust security practices are crucial steps in mitigating the risks associated with phishing scams.

According to CoinMarketCap data, the global crypto market cap is $2.3T, a 2.07% increase over the last day.Bitcoin (BTC) traded between $66,835 and $69,265 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $68,827, up by 0.12%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include TROY, PROS, and MASK, up by 45%, 26%, and 16%, respectively.Top stories of the day:Binance Donates $3 Million to Spanish Red Cross for Valencia Flood ReliefU.S. Presidential Election Exit Polls Provide Early Insights Goldman Sachs Economist Predicts Federal Reserve Rate Cuts By 2025 S&P 500 May Rise Amid U.S. Election and Year-End Sentiment, Says Morgan Stanley StrategistReserve Bank of Australia Maintains Interest Rate at 4.35% for Eighth Consecutive Meeting Cryptocurrency Market Maintains Greed Status Bitcoin Mining Companies Report Record Production in October Microsoft Faces Shareholder Pressure Over Bitcoin Investment Proposal UK Pension Fund Makes Direct Investment in Bitcoin BlackRock Invests $2 Billion in Bitcoin, Outpacing Other ETFs Market movers:ETH: $2438.17 (-0.85%)BNB: $560.27 (+0.30%)SOL: $162.24 (+0.50%)XRP: $0.5114 (+0.61%)DOGE: $0.16762 (+10.59%)TRX: $0.1623 (-1.81%)ADA: $0.3319 (+0.24%)TON: $4.557 (-5.83%)SHIB: $0.00001765 (+5.37%)WBTC: $68734.89 (+0.11%)Top gainers on Binance:TROY/USDT (+45%)PROS/USDT (+26%)MASK/USDT (+16%)

On Nov 05, 2024, 08:58 AM (UTC), according to Binance Market Data, Bitcoin(BTC) crossed the 69,000 USDT benchmark and is now trading at 69,027.992188 USDT, with a narrowed 0.51% increase in 24 hours.

According to Odaily, Goldman Sachs' Chief Economist Jan Hatzius maintains confidence that the Federal Reserve will follow through on its earlier indications of implementing two interest rate cuts by the end of the year. This expectation is particularly reinforced by a weaker-than-expected employment report released last week. Hatzius anticipates that this trend will continue into the first half of 2025.In a report published last Sunday, Hatzius stated, "We expect the Federal Reserve to execute four consecutive rate cuts in the first half of 2025, ultimately bringing the interest rate down to a range of 3.25% to 3.5%. However, there is greater uncertainty regarding the pace and final target of the Fed's rate cuts next year." He further noted that his forecast is approximately 50 basis points higher than the market consensus.

On Nov 05, 2024, 07:43 AM (UTC), according to Binance Market Data, BNB crossed the 560 USDT benchmark and is now trading at 560.390015 USDT, with a narrowed 0.05% increase in 24 hours.

According to U.Today, XRP, the seventh-largest cryptocurrency by market capitalization, has experienced a significant increase in trading volumes, rising by 54% as the cryptocurrency market attempts to rebound from a recent $225 million sell-off. The market witnessed nearly $225 billion in liquidations over the past 24 hours, with crypto futures experiencing approximately $133 million in long liquidations. This was largely due to Bitcoin's decline to lows of $67,444, which resulted in losses across major tokens. CoinMarketCap data indicates that XRP's trading volume reached $1.04 billion in the last 24 hours, equivalent to 2.03 billion XRP, marking a 55% increase. This surge in activity may be attributed to heightened market participation following a period of intense selling pressure.The broader cryptocurrency market is currently showing signs of recovery, with several crypto assets returning to positive trading territory. Bitcoin, for instance, surged past $69,000 during Monday's trading session. This positive sentiment has extended to XRP, driving up trading volumes as traders and investors seek to capitalize on the upward momentum. The increase in trading volumes has also positively impacted XRP's price, which rose by 2.29%, trading at $0.512 at the time of reporting.Ripple recently released its Q3 XRP Markets Report, providing transparency and updates on the company's perspective on the state of crypto markets and relevant XRP Ledger and XRP-related announcements. Key highlights from the report include the affirmation that XRP's status as a nonsecurity remains unchanged. Ripple filed its Form C in response to the SEC's appeal, which does not address whether XRP is a security. The ongoing legal action by the SEC against Ripple appears to be a significant factor influencing XRP's price. Additionally, Bitwise, Canary, and 21Shares have all filed S-1s for XRP ETFs, indicating strong institutional interest in XRP investment products. Leading issuer Grayscale has launched an XRP Trust and filed to convert a multi-coin fund that includes XRP into an ETF.