● Bloomberg ETF Analyst: BTC's sudden surge may be a reaction to the U.S. presidential election
According to Odaily Planet Daily, Bloomberg ETF analyst Eric Balchunas stated on the X platform that BTC's sudden spike today may be a reaction to the U.S. presidential election.
Eric Balchunas added, "If anyone thinks Bitcoin is not a good indicator to watch today, please tell me why. In my view, BTC seems to be a clean indicator because it's a question in the campaign, while stocks and bonds are less important, but I'm open to other thoughts."
● GSR Analysis: Elections may not affect Bitcoin; Trump’s victory could reduce SEC regulatory risks
According to Blockworks, with election day approaching, Trump is leading in the prediction markets Kalshi and Polymarket. According to 538 data, the election situation remains unclear.
GSR research analyst Toe Bautista stated that the crypto market is in a wait-and-see state, but Bitcoin is unaffected by the election results. If Trump wins, there may be slight fluctuations.
Bautista pointed out that many companies are waiting to see the release of other tokens and the election results, concerned about SEC regulatory risks. If Trump wins and Gary Gensler is removed from office, the risks may decrease.
Bautista believes that although it is difficult to reach a historical high in the fourth quarter, if macro conditions are favorable, Bitcoin could reach $80,000 early next year.
● Split Capital Founder: Altcoin rebound will be influenced by U.S. election results
According to Jin10, after underperforming Bitcoin for most of this year, smaller cryptocurrencies like Dogecoin and SOL may face the greatest risks after the U.S. presidential election concludes. Bitcoin surged 4.6% to $70,165 on Tuesday, about 5% lower than its record high of around $73,800 set in March. This largest cryptocurrency by market cap has risen over 65% this year.
On Tuesday, Dogecoin surged 17%, partly due to long-time supporter Elon Musk stating that if Trump wins the election, he will establish a Department of Government Efficiency (D.O.G.E.).
"For Bitcoin, the U.S. election is not very important," said Zaheer Ebtikar, founder of cryptocurrency fund Split Capital. "For altcoins, if Kamala Harris wins, they may not rebound as much. They are the biggest winners or losers in this election," but I'm open to other thoughts.
● Prediction Market: Trump’s probability of winning the U.S. presidential election rises to 70.7%
According to Foresight News, data from the prediction market Polymarket shows that the probability of Trump winning the U.S. presidential election has risen to 70.7%, while the probability of Harris winning has fallen to 29.5%.
● Analysis of the announcement times of past U.S. election results
According to BlockBeats, on November 5, Bloomberg released a timeline of past election results, showing that in 7 elections, 3-4 were announced on the night of the election.
In 2020, Biden: The AP announced the winner four days after election day at 11:26 PM (Eastern Time). In 2016, Trump: The AP announced the winner one day after election day at 2:29 AM (Eastern Time).
In 2012, Obama: The AP announced the winner on election day at 11:38 PM (Eastern Time). In 2008, Obama: The AP announced the winner on election day at 11:18 PM (Eastern Time).
In 2004, Bush: Democratic candidate John Kerry conceded the day after the election. In 2000, Bush: Democratic candidate Gore conceded 36 days after the election.
In 1996, Clinton: The AP announced the winner on election day at 9:00 PM (Eastern Time). Note: Due to the East Eight Zone being 13 hours ahead of Eastern Time, if the election results proceed normally, the final results are likely to be announced around noon the next day in the East Eight Zone.
● VanEck launches PYTH ETN product covering 15 European countries
According to TechFlow, on November 5, asset management company VanEck announced the launch of a new PYTH ETN product, allowing investors to trade its assets directly through VanEck. This product will be listed on the Amsterdam Euronext and Paris Euronext, enabling investors to participate in the performance of the Pyth Network token PYTH without directly purchasing or storing cryptocurrency.
PYTH ETN will be available for trading in 15 European countries, including Austria, Switzerland, Germany, Denmark, Spain, Finland, France, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, and Sweden. It is reported that VanEck has previously launched BTC ETN and ETH ETN products.
● NVIDIA's stock price rises, regaining the title of the world's highest market cap company
According to Odaily Planet Daily, on November 5, NVIDIA's stock price rose about 2.84%, reaching a market cap of $3.43 trillion, surpassing Apple's $3.38 trillion and Microsoft's $3.06 trillion.
Apple's stock price failed to recover from its slump in late October due to weak sales outlook and fourth-quarter earnings below expectations. Microsoft experienced one of its worst trading days in two years after lowering its fourth-quarter 2024 performance forecast.
NVIDIA has benefited from strong sales growth and investments in accelerated computing and generative AI, with its stock price nearly doubling this year.
According to Fortune, Binance CEO Richard Teng stated that although Asia will drive global financial growth, Western companies will still dominate the process.
Richard Teng emphasized that policymakers should ensure local businesses have fair competition opportunities and allow broader innovation experimentation. He also noted that stablecoins are rapidly growing outside the U.S. due to demand from low-income countries, especially in Africa, Latin America, and parts of Asia, helping consumers protect their assets, lower transfer costs, and drive these countries away from a U.S.-dominated financial system.
● Binance donates $3 million to the Spanish Red Cross to assist with Valencia flood relief
As Valencia faces severe flooding, the Binance Charity Foundation announced a $3 million donation to the Spanish Red Cross, aimed at providing emergency assistance to affected communities and helping local residents through the disaster and rebuild their homes. Accelerating relief and supporting reconstruction, the donation from the Binance Charity Foundation will help the Spanish Red Cross quickly mobilize rescue resources to support the people of Valencia affected by the floods. By providing emergency relief supplies, Binance and the Red Cross are working together to contribute to the post-disaster recovery and rebuilding of Valencia.
Binance Spain General Manager Javier García de la Torre expressed the company's support for the disaster area: "We extend our deepest condolences to all those affected by the Valencia floods. Binance is committed to mobilizing resources and providing critical support in difficult times. Through our donation to the Spanish Red Cross, we hope to bring relief to those in urgent need. We will always stand with the Valencia community to support their rebuilding and recovery."
Fernando Pérez-Ordoyo, head of international cooperation at the Spanish Red Cross, also expressed gratitude for Binance's assistance: "The sense of social responsibility and solidarity from businesses inspires us to continue striving for the welfare of the community. Thank you to Binance for being an important partner in our relief efforts."
