PANews reported on November 6 that Singapore crypto investment institution QCP Capital published a statement saying: "As long as Trump gets a few more votes, the 2024 presidential election will basically be settled. Trump has been leading in the polls from the beginning, and now everything depends on Arizona, Michigan, Nevada and Wisconsin. More than half of the votes in these states have been counted, and the balance is tilting towards Trump.
The dollar surged 1.2% and Treasury yields also climbed as markets anticipate stronger economic growth and more fiscal spending. The 10-year Treasury yield rose 15 basis points, while the 2-year Treasury yield rose 8 basis points, indicating that investors' expectations have increased. Although the market expects that the probability of rate cuts will decrease due to Trump's proposed "friendlier" policies, the market still expects 1.8 rate cuts this year and another three cuts next year.
The cryptocurrency market is extremely hot, and Bitcoin has broken through again to reach a new all-time high of $75,000 after hitting the previous all-time high of $73,500 on March 14. Since then, Bitcoin has mainly traded in a narrow range below $70,000. It is worth noting that since the birth of Bitcoin in 2009, it has gone through three election cycles, each of which has ushered in new highs, and the price has never fallen back to pre-election levels. This bullish momentum is expected to remain strong as we enter 2025.”
