When the truth conflicts with desires, most people resist the truth.
--Ray Dalio, Founder of Bridgewater Associates--(Principles)
There are still 13 days until the US election!
The cryptocurrency industry's influence on US politics is growing, and as the final phase of the election cycle approaches, political donations from the US cryptocurrency industry have exceeded $190 million, setting a new record.
There has been a significant increase in spending compared to previous elections, nearly 13 times the $15 million spent in 2020.
Currently, the US Dollar Index (DXY) is performing strongly, continuing to rise. If the dollar appreciates, the value of risk assets typically declines, and vice versa.
If historical trends repeat, the dollar may quickly retreat, similar to the situation in November 2023.
Bitcoin prices are expected to hover around the price range of $65,000 to $70,000. However, from a technical analysis perspective, the overall trend of Bitcoin will continue to form higher highs and higher lows, likely maintaining in an upward channel.
CME Bitcoin futures have reached an all-time high. Both the spot and futures markets are showing excitement for Bitcoin, which is one of the factors we need to consider in making the right decisions.
Note: All content represents the author's personal views and is not investment advice. It should not be interpreted in any way as tax, accounting, legal, business, financial, or regulatory advice. You should seek independent legal and financial advice, including advice on tax consequences, before making any investment decisions.
