Currently, due to the U.S. presidential election, funds in the entire risk market are in a wait-and-see mode.
Bitcoin has slid smoothly from 73,000 to around 68,000. I believe the current short-term correction is mainly due to the increased probability of Harris being elected president, leading to negative sentiment. The recent correction is clearly a result of funds opting for safety. Last month’s aggressive Bitcoin market was greatly benefited by the expectation of Trump coming to power, but now Trump’s victory seems precarious, prompting funds to take profits and seek safety. Additionally, the outflow of Bitcoin from Mentougou exacerbates the panic in the market sentiment.
The market value of Bitcoin is currently close to accounting for nearly 60% of the entire cryptocurrency market. According to historical patterns, whenever Bitcoin breaks this market share, the cryptocurrency market will undergo a correction, and altcoins may see some improvement, becoming either a catch-up or a resistance to decline. The election results will gradually become clear in the next couple of days.
Currently, based on the prediction market, Trump's approval rating is slightly higher than Harris's and shows that predictions have stopped. Now, the only thing we can do is wait for the data to be published. Due to the time difference with the U.S., we will know the final answer by the 6th in China time. There will be significant market fluctuations at that time, so it’s advisable to follow a conservative approach, refrain from trading, and wait for the results to come out. We must believe that BTC will definitely hit new highs; even if the wise king loses this time, it won't affect Bitcoin's long-term trend.
There are many voices in the market about who will become president, but we won't say much about it, after all, it’s their business. We will just be good spectators and watch. Other than that, there’s nothing much to say. Patience is key.
The expectation of Trump's victory does not mean he is very friendly towards cryptocurrencies, but he advocates for industrial development, rapid interest rate cuts, and guiding the depreciation of the dollar to boost exports and reduce the trade deficit, which will also lead to a decline in U.S. Treasury yields and a decrease in demand for gold as a hedge. As long as interest rates are cut quickly, this will benefit BTC.
Harris and Trump differ in this regard, as they are likely to curb the pace of dollar interest rate cuts, keeping the dollar strong, which would retain global capital significantly in the U.S., thus benefiting U.S. stocks. Regardless of who comes to power, I believe neither is an absolute positive or negative; it can only be viewed in terms of short-term or long-term.
There are many voices in the market about who will become president, but we won't say much about it, after all, it’s their business. We will just be good spectators and watch. Other than that, there’s nothing much to say. For those holding coins, don't panic-sell; wait for a reversal. For those without positions, it’s advisable to observe and wait patiently.
Regarding altcoins
Essentially, there is still a lack of liquidity, as funds have gone to ETFs and haven't spilled over to altcoins. However, there are also increasingly more altcoins diluting funds. After listing, many are continuously unlocking and dumping, which is why this round of altcoin season has shifted predominantly to the MEME sector. However, it’s just a trend; it’s best to take profits and run, and it’s advisable not to be overly ambitious. CZ has also said that this year is a year of recovery, and a bull market is still expected next year, so we must remain steadfast in our beliefs and not get left behind.
The U.S. presidential election is about to conclude, and three cryptocurrencies are expected to yield 100 times profit post-election!
1.ARKM
Currently, there are strong coins here. When others fall, I don't! Arkm is an AI coin, and the AI series is set to rise. The last interest rate cut caused a surge. This week’s election coupled with rate cuts, if you like AI, you might want to pay attention. Previously, Arkm announced plans to develop a derivatives platform, and ARKM has started to strengthen. This adjustment is still operating within a normal range, and the platform seems set to launch soon, so in the last couple of days, it has also shown some resilience.
As a personal long-term holding token, Arkm has also experienced a significant roller coaster. It has taken more than a year of holding to see a glimmer of hope now. Among AI, besides TAO, it’s the most promising new coin, hoping it can strive for growth!
2.DOGE
The price of Dogecoin today is $0.16609, an increase of 3.60%, with a trading volume of $2.265 billion. Analyzing the candlestick chart, the current trend is oscillating. It has slightly risen compared to 21:00, slightly declined compared to 20:00, and decreased compared to 19:00. The simultaneous rise in price and trading volume is a sign of strong market buying, indicating that buyers are willing to transact large amounts at higher prices, reflecting optimistic market sentiment and strong bullish feelings.
In this situation, prices are expected to continue rising due to strong market momentum and increasing buying pressure. Investors are advised to pay attention to the breakout of key resistance levels. If prices can sustain breakthroughs and stabilize at higher levels, it will confirm the continuation of the upward trend.
3.ONDO
Ondo Finance is changing the financial landscape by combining the reliability of traditional finance with the efficiency of blockchain technology. By tokenizing stable, income-generating real-world assets, it opens the door to advanced financial products that many people could never access before. This democratization enhances financial infrastructure and expands accessibility. Ondo has an asset management department responsible for creating these tokenized products and a tech department responsible for developing decentralized finance protocols, thereby improving functionality and scalability.
In the current market cycle, Ondo's focus on trust and security sets it apart. Collaborations with well-known partners like BlackRock and the use of Coinbase for asset custody highlight its commitment to quality. Products like USDY combine the accessibility of stablecoins with yields backed by U.S. Treasury bonds and bank demand deposits. This approach provides regulated and transparent financial products for non-U.S. investors. Amid market volatility, Ondo innovatively integrates real-world assets with blockchain technology, aligning with the trend in the crypto space seeking stability and transparency.
