Yesterday, the first debate between Trump and Harris caused a major shock in the crypto market. If Trump is elected, his policies may have a positive impact on the crypto market; even if Harris is elected, the market volatility may only be short-term.
Current President Biden and his appointed SEC chairman have exerted continuous pressure on cryptocurrencies, but even in this environment, Bitcoin has still set a record high.
The decline of altcoins is mainly due to the frequent unlocking of tokens by project parties, the continuous delisting of large platforms, and the phenomenon of cutting leeks after the launch of new projects. These problems are the main reasons.
However, the downturn in the crypto market may be coming to an end. The US CPI data released last night was better than expected. At the Federal Reserve's interest rate meeting on September 19, a 25 basis point interest rate cut was almost a foregone conclusion.
Bitcoin spot ETFs have seen net inflows again, and the suppression and accumulation of funds by giant whale institutions may also be coming to an end. Therefore, the prospects of the crypto market in October are worth looking forward to.