This week is eventful, with the U.S. election set to begin final voting on November 5, which is expected to significantly determine the election results. The election coincides with the Fed's monetary policy meeting (on Friday). On Monday, U.S. stock markets opened, with the Nasdaq rising 0.25% intraday, the S&P 500 slightly up by 0.15%, and the Dow Jones index down by 0.25%; gold rose by 0.15%.

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The Monetary Authority of Singapore has announced plans to promote the tokenization of financial services, which includes: forming a business network to deepen the liquidity of tokenized assets; establishing a market infrastructure ecosystem; nurturing an industry framework for the implementation of tokenized assets; enabling tokenized assets to utilize common settlement facilities. As of November 3, U.S. local time: In polls hosted by Yahoo News, ABC News/Ipsos, and Morning Consult regarding the U.S. elections, Harris is leading Trump. In polls by NBC News, Emerson, and the New York Post, the support rates for both are even; Trump only leads Harris in the TIPP-hosted poll. Polls released by data analysis firm AtlasIntel (from November 1 to 2) show that Trump is leading Harris in seven swing states, with a particularly notable advantage in Arizona and Nevada. (New York Post) Polls indicate that Trump and Harris both have a support rate of 49%. Musk's AI company xAI is discussing raising $5 billion at a valuation of about $45 billion with UAE investment firm MGX. Superscrypt, a blockchain venture capital firm supported by Temasek, plans to raise up to $100 million for its second investment fund. DefiLlama data shows that the total financing in the crypto market for October 2024 has increased by about 30% compared to September 2024, reaching $860 million. According to DefiLlama data, the total market capitalization of stablecoins grew by 0.38% in the past week, reaching $173.117 billion, close to the highest level since May 2022.

Simon Gerovich, CEO of Japanese-listed company Metaplanet, stated that the company's adoption of a BTC strategy has led to an approximately 1017% increase in its stock price this year, with the company currently holding 1018.17 BTC at an average cost of $61,800. Researcher Adam from Greekslive noted that this week is the U.S. election week, which significantly impacts the entire market. Additionally, there is a monetary policy meeting on Friday, and the cryptocurrency market is currently cautious and observing, with uncertainty about who will win the election. The market generally expects a 25 basis point rate cut in Friday's meeting. Forbes reported that some major tech stocks have exhibited higher volatility than BTC, with Tesla shares leading at 24% volatility, followed by AMD at 16% and Nvidia at 12%, all exceeding BTC's range of 11%, while Apple shares showed the most stability, with October volatility slightly below 6%. Nick Forster, founder of Derivexyz, analyzed that there is a two-thirds chance that election night will lead to significant price fluctuations, with BTC's volatility range between -8.97% and +9.85%, and ETH between -9.25% and +10.19%. Last week, the U.S. BTC spot ETF saw a cumulative net inflow of $2.2202 billion, with BlackRock's IBIT seeing inflows of $2.1489 billion and Fidelity's FBTC seeing inflows of $89.8 million; the U.S. ETH spot ETF saw a cumulative net inflow of $13 million, with BlackRock's ETHA seeing a net inflow of $65.5 million and Grayscale's ETHE seeing a net outflow of $62.4 million.

Data from November 1 shows: The non-farm employment figure in the U.S. for October was 12,000, lower than the expected 113,000, with the previous value revised from 254,000 to 223,000. The unemployment rate for October was 4.1%, matching the expected value of 4.1% and flat compared to the previous value of 4.1%. Non-farm employment increased by 12,000, marking the smallest increase since December 2020. Goldman Sachs stated that the weak data indicates that the Fed will continue its easing cycle at this week's meeting, and the data is concerning, increasing the likelihood of a 25 basis point rate cut in November. This week is eventful, with the U.S. election set to begin final voting on November 5, which is expected to significantly determine the election results. The election coincides with the Fed's monetary policy meeting (on Friday), and most traders believe that volatility will emerge this week, potentially very intense, with vote counting possibly dragging on for weeks or even months. On Monday, U.S. stock markets opened, with the Nasdaq rising 0.25% intraday, the S&P 500 slightly up by 0.15%, and the Dow Jones index down by 0.25%; after Bitcoin approached historical highs last week, it fell below $67,500 over the weekend and rose back to around $68,000 on Monday; gold rose by 0.15%. JPMorgan believes that in the long term, gold will continue to benefit from the Fed's interest rate cut cycle, regardless of the election results, as these driving factors will persist. If Trump is elected, gold prices are expected to rise by 7-10% in the next 1-2 quarters; if Harris is elected, there may be a short-term pullback of 2-3%, but there will still be room for increase thereafter. The U.S. October non-farm employment data was surprisingly low, with non-farm employment at 12,000 (expected 113,000, previous 223,000), marking the smallest increase since December 2020.

Last Friday, the Federal Reserve's fixed-rate reverse repurchase agreement (RRP) usage was $155.476 billion, falling below the $200 billion level for the first time since May 2021. BlackRock portfolio manager Jeffrey Rosenberg stated that the Fed may cut interest rates this week and in December, as the labor market is normalizing and a soft landing is still possible. Savita Subramanian, a strategist, mentioned that cash holdings in U.S. mutual funds have dropped to their lowest level since records began at Bank of America in 2015, indicating increasing bullish sentiment in the stock market as the Fed's easing cycle begins. Deutsche Bank noted that the business cycle has a long way to go, believing that strong stock inflows will continue. Last week, Bitcoin rose due to the possibility of Trump being elected, nearing historical highs, while this Tuesday's election approaches, with Trump and Harris having equal chances of winning, leading to a Bitcoin pullback, causing altcoins to react nervously. This Friday, the Fed's monetary policy meeting will influence the markets in November and December. Currently, the probability of a 25 basis point rate cut by the Fed on Friday is 98.9%, with an accumulated probability of a 50 basis point cut by December at 82.7%. Bitcoin barely maintains its status, while Ethereum and altcoins are equally struggling, hoping for the Fed's coherent monetary easing policy in September, November, and December to add liquidity to the crypto market and spur recovery, with Bitcoin just a step away from new highs.