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US presidential election sudden changes, cryptocurrency market suddenly entering winter overnight?
On October 30th, bitcoin failed to hit a new all-time high. After rising to above $73,600, it was only $100 away from $73,777. Unfortunately, the lack of follow-up funds led to continuous fluctuations and consolidation, ultimately slipping all the way down. By the evening of October 31st, BTC accelerated its decline, dropping to near $68,800 at one point and has now fallen back to around $69,500.
Before the USA election, the world's largest bitcoin ETF saw record inflows of funds.
Both presidential candidates' prospects are bullish for encrypted assets, with strong demand driving the influx of $0.872 billion into Blackrock's iShares Bitcoin Trust ETF, the world's largest bitcoin ETF, on Wednesday.
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Approaching historical highs! Bitcoin surged 13% this month, has Trump's trade stabilized?
① The price of bitcoin broke through $73,000 earlier on Wednesday, only a few hundred dollars away from its all-time high; ② The upward trend of bitcoin represents the market's bet on Trump's victory on one hand, but also considers hedging against inflation on the other hand.