As of the time of writing, the market shows that BTC has broken a new high, surpassing $75,000, currently reported at $74,213.84, with a 24-hour increase of 8.91%, indicating significant market fluctuations.

Decentralized prediction market platform Polymarket shows that former President Trump’s probability of winning the 2024 U.S. election has risen to 61.8%. It is reported that Polymarket reflects market expectations for various events through user betting. Unlike traditional polls, such platforms focus more on the flow of funds and changes in market sentiment, having attracted over $3 billion in real money support, making them an effective reference for analyzing the political landscape, while also being more persuasive. Currently, Trump's election odds are 1.57, while Harris's are 2.5. These odds data reflect the global market's confidence in the two candidates' chances of winning and suggest that Trump is likely to be elected!

Written before Trump is re-elected as President of the United States:
He has already secured two states at the start, and is leading in two more! Trump's momentum is strong! Hopefully, results will be out today; the market in this environment is quite disgusting. The focus will now be on the six swing states! Green markings in the picture; currently, Harris is leading in Pennsylvania and Michigan, while Trump is leading in North Carolina and Georgia!

People in the crypto circle should all support Trump; no one would go against their own positions, as the market represents everything. Although I believe that whoever is elected cannot stop the trend of BTC, Trump's election will undoubtedly accelerate this process. Let's go!

Summary: Many MEMEs saw several times or even dozens of times increases last week, but the stories I saw and heard mostly involved significant losses. Therefore, before narrating, I hope everyone remains rational while participating, ensures proper risk control, strictly executes trading strategies, and does not let survivor bias cloud their judgment.

Back to the point, while researching the MEME track, I started with the leading project DOGE and found that DOGE has been experiencing some interesting developments recently, and I would like to share some insights.

Overall, as the possibility of Musk entering politics increases, DOGE is tapping into new traffic potential—political traffic. Therefore, the upcoming election results may usher in a new value cycle for DOGE.

The market is focused on the U.S. presidential election
Despite increased market volatility due to the U.S. presidential election on Tuesday, the latest consumer confidence survey from the U.S. Chamber of Commerce shows that consumer confidence in stocks has reached an all-time high.
Historical data shows that since 1980, the three major U.S. stock indices have risen from election day to the end of the year in presidential election years, but don't celebrate too early, as in the short term, the three major indices all experienced declines in the week following election day, before recovering in about a month.
As voting is still ongoing, according to preliminary results from CNN's national exit polls, the vast majority of voters indicated that they had decided who to vote for well before election day. Two-thirds of voters expressed some confidence in the fairness and accuracy of this year's election. However, the vast majority of voters (about seven in ten) expressed concerns about potential violence resulting from the election.

The Shiba Inu team proposed to turn the U.S. into a crypto valley, inviting Musk and Trump to join. SHIB price rose by 4%, and investors are bullish.

On Tuesday, the Shiba Inu coin team announced a proposal to introduce a Blockchain Innovation Strategy Center (SHIB) in the United States, sparking a frenzy in the cryptocurrency space. Notably, the chief developer of the meme coin, Shytoshi Kusama, recently unveiled this proposal and invited 'presidential candidates or relevant parties' from across the country to promote this effort. Meanwhile, another well-known community member, kaalhairya, called on U.S. presidential candidate Trump and billionaire Elon Musk to pay attention to this matter.

The results of the American election have come out.
According to reports from CCTV, on November 5 local time in the United States, in the small town of Dixville Notch, New Hampshire, the voting results of the 6 registered voters announced show that Harris and Trump are tied at 3 votes each.

The start is indeed very dramatic, and it's basically the same as the prediction websites, both are evenly matched!

However, in the last American election, everyone voted for Biden, and in this year's primaries, everyone voted for Harris, but today, half voted for Trump!

But there's not much to see, everyone is just watching the excitement!

The current market situation is indeed like "cutting meat with a blunt knife", with continuous small declines gradually wearing away investors' patience.
The market leaders repeatedly tested the psychological bottom line of retail investors, and each small drop would bring emotional fluctuations. This process gradually made many investors feel desperate in the repeated suffering, and finally cut their losses and left the market.
Such a market situation is not only a challenge on the technical level, but also a test of human nature.
Most people are reluctant to cut losses before a big drop, always thinking they can hold on until a rebound comes.
But after experiencing many shocks, the original belief began to waver, and the determination to "hold for the long term" was gradually broken by the accumulated losses and fear in my heart.

According to a report released by CEX Bybit in June, institutional investors' holdings of spot Memecoins increased from $62.5 million to $204.8 million between February and March this year, peaking at $293.7 million in April. The most popular Memecoins include DOGE, SHIB, PEPE, and BONK. Following a deterioration in market sentiment and a sell-off of Memecoins, total holdings dropped to $139 million, but this increase in holdings also represents a growth of 125% compared to the beginning of the year.
It can be said that since this year, Memecoins have increasingly become an important focus for institutional investors, and unlike previous fleeting Memecoin trends, Memecoins have become an important narrative and hot topic in this market cycle.

After Bitcoin rose to around 69,200 last night, it lacked the momentum to break through and fell all the way down, forming a trap for bulls before plummeting to a low of 66,800. Now that shorts are covering, it has caused a market rebound, but this doesn't mean the bulls have disappeared; they just haven't acted yet, perhaps accumulating energy. The future indicator of whether the bulls will make a significant move is whether they can stand above the four-hour life line.

The news remains unchanged as everyone is waiting to see who wins the election. In the 24 hours leading up to it, short positions are about twice the size of long positions. Under significant news impact, avoiding opening positions can help outperform over 80% of people.

For Trump and Harris today, it may be a matter of life and death. Winning or losing will determine who retires early and who remains dominant.
For you in the crypto market, this is neither the end nor the beginning.
No matter how you put it, the U.S. election is just a relatively powerful piece of news. News has a time sensitivity; it is merely a kind of emotional fermentation.
It cannot determine the true rise and fall of the crypto market. What determines the rise and fall of the crypto market is the game played by the big players and the control of the market, rather than Trump. It is the funds within the market, the fresh liquidity.
May I ask, when the news breaks, will the crypto market immediately inject over 4 trillion U.S. dollars?

The price of Bitcoin (BTC) experienced a sharp 8% correction between Oct. 29 and Nov. 3, briefly dipping to $67,446 over the weekend. While higher time frame (HTF) market structure remains bullish for BTC, the market is expected to see volatile trading sessions ahead of the outcome of the U.S. presidential election on Nov. 5.

Bitcoin’s current uptrend can be traced back to the low of $52,510 formed on September 6. Since then, every correction in BTC’s higher highs (HH) and higher lows (HL) structure has retested the Fibonacci “golden zone” between 0.5 and 0.618.

Ahead of the U.S. elections and important Federal Reserve meetings, the cryptocurrency market is preparing for potential turmoil this week.

As the political atmosphere tightens, the expected price volatility of Bitcoin (BTC) is sharply increasing.
Data from Deribit, the largest cryptocurrency options exchange, shows that the implied volatility index for Bitcoin has surged to an annualized rate of 63.24%, marking the highest level since July. Implied volatility measures the expected price fluctuations over a given period (in this case, the next 30 days), providing insight into market participants' expectations of price movements.
The rise in expected volatility reflects market sentiment, as investors prepare for potential uncertainty before the intense presidential election between former President Donald Trump and current Vice President Kamala Harris.

Just before the fiercely contested and uncertain U.S. election, options traders across various markets seem to be lowering risk in preparation for more volatility.
Although market volatility is low, the volatility of stock options rose for most of October, as the market was not only anticipating the upcoming election but also looking forward to the earnings season and Federal Reserve interest rate decisions. In the last days before the vote, the competition between Kamala Harris and Donald Trump was difficult to predict.
Since the Fed's rate cut in September, bond yields have been rising, prompting investors to pull back some futures positions and increase tail risk hedging as rates rise. In many cases, forex traders are betting on larger swings, with the volatility of the renminbi, Mexican peso, and euro heightened by uncertainties in trade and taxes.

2024 Market Summary: The path to a bull market is to hold steady!

Cycle patterns are significant: the life cycle of a market cycle is about four years, precisely passing through peaks and valleys. Looking back at 2016-2017, 2020-2021, and now the upcoming 2024-2025, the market seems to be conducting a 'four-year cycle' ritual. Therefore, holding and patiently waiting, the next bull market will inevitably arrive on time!

Long-term holding is a profit-making tool: especially at the beginning of a bull market when the cycle has just begun, this is the best time for long-term players to position themselves! Avoid frequent trading; the best strategy at the beginning of a bull market is to remain steady and wait for opportunities.

Recently, Bitcoin's price has retreated for six consecutive days, remaining solidly above $68,000 on the daily chart in the short term, while the 4-hour chart shows that the price is still consolidating. The overall strength on the monthly chart has slightly improved. From a technical perspective, Bitcoin's trend is still mainly focused on oscillating recovery, and trend signals have a significant impact on the price. With the announcement of the US election results on November 5-6, BTC price is expected to experience significant volatility.

Ethereum is currently mainly linked to the overall market, with a relatively weak overall trend, and the price is at the bottom range of the bull market. Although the market is temporarily sluggish, historically, during bull market rotations, funds usually flow into Ethereum quickly. Based on this pattern, I remain optimistic about ETH's future performance and suggest holding and waiting for a change in the market. For retail investors, the main strategy now is to observe and wait for market funds to rotate towards Ethereum.

Since the recent launch of the DEPIN project GRASS, the heat in the DEPIN field has greatly increased, and many players are starting to look for similar DEPIN projects to participate in. Meanwhile, the second season airdrop of GRASS has officially begun; those who participated can continue to hang out. Many friends are inquiring about the mobile operation tutorial for GRASS; please visit the 'TianCai Trader' public account to view the pinned article.
Because projects like GRASS require 24-hour hanging, if only hanging one project like GRASS, it would obviously be a waste of resources. Therefore, today we summarize multiple similar projects to hang together for profit maximization.

After a round of fluctuations, the price of Bitcoin hit a low near 67,478, and subsequently rebounded in the early session to a high of 69,356. It was previously mentioned that if the daily close is below 68,000, caution should be exercised, while a close above 69,000 would be more ideal. Ultimately, Bitcoin's daily close was around 68,700. Although the upper shadow is long, this does not necessarily mean a trend reversal. Typically, in an upward trend, long upper shadows are often due to profit-taking by bulls. Currently, if there is a position near 68,000, it can still be held, with the target looking towards 70,000 without much issue.

It is worth noting that the U.S. elections are about to begin, with the final results expected to be announced around noon on the 6th Beijing time. Personally, I believe the possibility of Trump winning is relatively high. Meanwhile, the cryptocurrency market is expected to welcome a comprehensive bull market in 2025. Therefore, the current fluctuations are only temporary, and sticking to positions, exchanging time for space, is a more prudent strategy.

Bitcoin has received support at a key support level
Today, let's talk about the latest developments in the Bitcoin market. Currently, Bitcoin has received support at the edge of a critical bull flag, providing opportunities for spot trading to enter the market in batches. This week will reveal the results of the U.S. presidential election; if Trump is elected, it could trigger a market surge, possibly leading to a strong upward trend throughout November. We will further analyze the results in subsequent programs.
The long-term trend of Bitcoin and short-term volatility
As mentioned in our previous program, Bitcoin still maintains a bullish trend in the long term, but there are clear bearish signals in the short term. This is mainly due to Bitcoin currently being influenced by the U.S. stock market. The market expects that Trump's election could drive strategic support for Bitcoin from the government, coupled with the possibility that the U.S. stock market might benefit from interest rate cuts, making risk assets likely to gain support in such a context. Therefore, some investors have already placed bets on Trump's election. However, as the election results draw near, the market may experience volatility, and some investors choose to exit early.

Countdown to the U.S. election: One day left.

The election will reach its ultimate battle on November 5 local time in the U.S., and the election results can be basically confirmed around noon on the 6th Beijing time.

Everyone felt yesterday’s market; before the election, the market fluctuates rapidly. I remind everyone again that it’s best to stay away from contracts and leverage.

This is like a once-in-decades typhoon that will sweep away people's wealth, while also destroying those who want to take advantage of the chaos; when the typhoon comes, stay safely at home and take protective measures.

We talked about it the day before yesterday; previously, Trump's support rate was much higher than Harris's, but in recent days the situation has reversed, with Harris overtaking Trump in support rate. Coupled with yesterday's drop in the market, people in the crypto circle are scared, and many haven't slept peacefully for a long time.

According to a report by Reference News on November 3, a bill that qualifies cryptocurrency mining as a legal activity has taken effect in Russia as of November 1. The Russian government has established qualification requirements for cryptocurrency miners. The responsibility for managing individuals and legal entities in the mining sector falls on the Russian government and the central bank, while the Ministry of Digital Development, Communications and Mass Media of Russia will be responsible for supervising the implementation of the new requirements by the Russian government.
Russian President Putin signed this cryptocurrency mining bill this summer, but because some of the provisions were not yet perfected at the time, the law did not officially take effect until November 1.