According to BlockBeats, QCP Capital said that as the US election approaches, Trump has expanded his lead over Kamala in the betting market, and the Republican Party is leading in key swing states. The market expects Trump to be elected president, which has pushed the dollar to strengthen, US Treasury yields to rise, and BTC prices to rise.

The S&P 500 hits a new all-time high, and the US 2-year Treasury yield breaks 4%. BTC open interest on exchanges hits a new all-time high, with the price approaching $69,000. The market expects 1.5 rate cuts in 2024. A strong labor market and an increased chance of Trump's election have raised expectations for US economic growth. All eyes are on next Friday's Non-Farm Payrolls (NFP) report. As the last NFP report before the next Fed meeting, it will play a key role in shaping market expectations. BTC and ETH are well supported and have potential upside ahead of the upcoming jobs data and the election.