The crypto market has become the biggest victim in the past two weeks.
First, the interest rate hike in Japan has caused institutions such as Jump to urgently need a large amount of cash to cover their positions.
So ETH has been smashed. It seems that Jump has also suffered a lot of losses in this wave. After clearing its positions, it will not return to the cryptocurrency market to buy the bottom in a short time;
Second, Trump's winning rate continues to decline.
This is also an important reason why the cryptocurrency market is far weaker than the US stock market.
At present, Harris's winning rate is 54%, leading Trump by 10 percentage points. Musk's live broadcast has not helped Trump to save the situation. Now it seems that Trump's big move was launched too early, while Harris is playing steadily. If Trump cannot win, then the cryptocurrency market may spit out the premium part of Trump.
It is hard to say whether Harris is an enemy or a friend at present. The current situation is that it is known that Trump can get all the votes in the crypto field, and his winning rate is 10% lower than Harris. If Harris gives crypto a little good news, then Trump will really work in vain.
If Trump cannot come to power, I think the biggest impact will be on $sol and $eth. One needs ETF to establish its position as the third brother in the crypto world, and the other needs the staking function of ETF to improve its competitiveness.
