Bitcoin briefly dipped to $66,822 this morning, returning to the low point of the consolidation area at the end of October, and Ethereum also fell below $2,400. With the U.S. presidential election and the Fed's interest rate policy approaching, investors should be cautious of potential volatility.
Bitcoin rebounded to about $69,500 yesterday but could not sustain the rise. After midnight today (the 5th), it began a new wave of decline, hitting a low of $66,822, returning to the low point of the consolidation area at the end of October.
The current writing has seen a rebound, briefly breaking through $68,000, currently reported at $67,703, with the 24-hour decline narrowing to 1.52%. The reason for this drop is speculated to be related to investors choosing to hedge ahead of the U.S. presidential election and the Fed's announcement of interest rate policy.
As for Ethereum, it briefly hit a low of $2,357 this morning and is currently reported at $2,384, with a 24-hour decline of 3.2%.
In the past 24 hours, the total liquidation across the network was $211 million.
In the fluctuating downward trend of Bitcoin, according to Coinglass data, in the past 24 hours, the total liquidation amount in the cryptocurrency network exceeded $210 million (with long positions accounting for $157 million), and over 83,000 people were liquidated.
The four major U.S. indices fell.
U.S. stocks closed lower on Monday as well, although Nvidia briefly rose 1.4% during the session, reaching a market value of $3.36 trillion, again surpassing Apple to top the global market value leaderboard, but was soon reversed.
The Dow Jones Industrial Average fell by 257.59 points or 0.61%, closing at 41,794.60 points.
The S&P 500 index fell by 16.11 points or 0.28%, closing at 5,712.69 points.
The Nasdaq index fell by 59.94 points or 0.33%, closing at 18,179.98 points.
The Philadelphia Semiconductor index fell by 27.43 points or 0.55%, closing at 4,973.99 points.
The probability of the Fed cutting rates by 25 basis points is 99.5%.
According to the CME Fed Watch tool, the market currently believes the chance of a 25 basis point rate cut this month has risen to 99.5%, and the chance of a 50 basis point cut is 0.5%, with no one believing the Fed will maintain the current interest rates.
