● Bloomberg ETF Analyst: BTC's sudden surge may be one response to the U.S. presidential election
According to Odaily Planet Daily, Bloomberg ETF analyst Eric Balchunas posted on platform X that BTC's sudden surge today may be one response 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. It seems to me that BTC is a clean indicator because it's an issue 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 victory could reduce SEC regulatory risks
According to Blockworks, with election day approaching, Trump leads in the Kalshi and Polymarket prediction markets. According to 538, the election situation remains unclear.
GSR research analyst Toe Bautista stated that the crypto market is in a wait-and-see mode, but Bitcoin is not affected by the election results. If Trump wins, there may be slight fluctuations.
Bautista pointed out that many companies are watching the release of other tokens and the election results, concerned about SEC regulatory risks. If Trump wins and removes Gary Gensler from office, the risks could decrease.
Bautista believes that while it will be challenging to reach a historic high in the fourth quarter, if macro conditions are favorable, Bitcoin could reach $80,000 by early next year.
● Split Capital Founder: Altcoin rebounds 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 biggest risks after the U.S. presidential election. Bitcoin surged 4.6% to $70,165 on Tuesday, about 5% lower than the 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 because Elon Musk, a long-time supporter of Dogecoin, stated 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 significant," said Zaheer Ebtikar, founder of the cryptocurrency fund Split Capital. "For altcoins, if Kamala Harris wins, they may not rebound as much. They are the biggest winners or losers of this election."
● 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 Harris's probability has dropped 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 3-4 of the 7 elections, results were announced that evening.
In 2020, Biden: The AP announced the winner four days after the election at 11:26 PM (EST). In 2016, Trump: The AP announced the winner one day after the election at 2:29 AM (EST).
In 2012, Obama: The AP announced the winner on election day at 11:38 PM (EST). In 2008, Obama: The AP announced the winner on election day at 11:18 PM (EST).
In 2004, Bush: Democratic candidate John Kerry conceded defeat one day after the election. In 2000, Bush: Democratic candidate Gore conceded defeat 36 days after the election.
In 1996, Clinton: The AP announced the winner on election day at 9:00 PM (EST). Note: As the time zone in the East 8 zone is 13 hours ahead of Eastern Time in the U.S., if the election results are announced normally, the final results will likely be out around noon the next day in East 8 time.
● VanEck launches PYTH ETN product, covering 15 European countries
According to Shen Chao 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 exchanges, enabling investors to participate in the performance of the Pyth Network token PYTH without directly purchasing or storing cryptocurrencies.
PYTH ETN will be open 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 also previously launched BTC ETN and ETH ETN products.
● NVIDIA stock price rises, regaining title of the world's most valuable company
According to Odaily Planet Daily, on November 5, NVIDIA's stock price rose about 2.84%, with 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 the slump in late October due to lower-than-expected sales prospects and fourth-quarter earnings. Microsoft experienced one of its worst trading days in two years due to lowering its fourth-quarter earnings forecast for 2024.
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 while Asia will drive global financial growth, Western companies will still dominate the process.
Richard Teng emphasized that policymakers should ensure local businesses have a fair chance to compete and allow for broader innovation experiments. He also pointed out that stablecoins are rapidly growing outside the U.S. due to demand from low-income countries, especially in parts of Africa, Latin America, and Asia, helping consumers protect assets, lower transfer costs, and liberate these countries from the U.S.-dominated financial system.
● Binance donated $3 million to the Spanish Red Cross to aid Valencia flood relief
As Valencia faces severe flooding, the Binance Charity announced a $3 million donation to the Spanish Red Cross, aimed at providing emergency assistance to affected communities, helping local residents through the disaster and rebuilding their homes. Accelerating rescue efforts and supporting reconstruction, the funds from the Binance Charity will help the Spanish Red Cross quickly mobilize relief resources to support the people of Valencia impacted by the flooding. By providing emergency relief supplies, Binance and the Red Cross are working together to contribute to post-disaster recovery and rebuilding in Valencia.
Javier García de la Torre, Binance Spain's General Manager, 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 deploying resources and providing crucial support during difficult times. Through our donation to the Spanish Red Cross, we hope to bring relief to those in urgent need of assistance. We will always stand with the Valencia community to support their reconstruction and recovery."
Fernando Pérez-Ordoyo, Head of International Cooperation at the Spanish Red Cross, also expressed gratitude for Binance's assistance: "The corporate sense of social responsibility and spirit of solidarity inspire us to continue striving for the welfare of the community. Thank you, Binance, for being an important partner in our relief efforts."
