On November 6, Trump announced his victory in the 2024 election. Trump has secured at least 270 electoral votes and will return to the White House in January! The three major U.S. stock indices opened higher, with the Dow Jones up 3%, the S&P 500 up 2.06%, and the Nasdaq up 2.05%; the Russell 2000 small-cap index rose 4%, marking the largest increase since November 2023.
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On November 6, Trump announced his victory in the 2024 election. Trump has secured at least 270 electoral votes and will return to the White House in January! The three major U.S. stock indices opened higher, with the Dow Jones up 3%, the S&P 500 up 2.06%, and the Nasdaq up 2.05%; the Russell 2000 small-cap index rose 4%, marking the largest increase since November 2023. Before the election, analysts predicted that if Trump won, the price of BTC could rise to $80,000 or $90,000. Matrixport analysis indicated that as the election results become clearer, the market is expected to welcome a year-end rally in risk appetite. American traders have reason to increase their positions, and against the backdrop of BTC's upward momentum, the greed and fear index is also expected to rise further.
GSR research analyst Toe Bautista stated that many project teams have been waiting for the right moment, observing the election results. If macro conditions remain favorable, the price of BTC may further rise, and it is easy to foresee BTC reaching $80,000, whether in Q1 of next year or by the end of the month. Trump has repeatedly voiced his support for Bitcoin in public and attended the Bitcoin conference in Tennessee on July 25, 2024. On November 6, Bitcoin reached $75,000, setting a new historical high after 236 days. Today, the news is flooded with election coverage, with little else to write about. U.S. stock indices are rising, Bitcoin is at a new high, and there is hope for a further warming of market sentiment. On Friday, the Fed's rate cut of 25 basis points is almost fully priced in, with a 66% chance of further cuts in December.
