Standard Chartered Bank expects Bitcoin to rise to $100,000 in the November election.

Starting from the weekend morning, virtual currencies started to rise across the board. Bitcoin once returned to the $60,000 mark, and Ethereum, Tether, Dogecoin, etc. once rose across the board. It is worth noting that Trump has made many remarks in support of cryptocurrencies earlier. The latest draft of the Republican Party platform clearly states that it will end the suppression of cryptocurrencies, and mentions opposition to the introduction of central bank digital currencies, defending the right to mine Bitcoin, and defending the right to custody and free trading of digital assets. Jeff Federico, head of foreign exchange and digital asset research at Standard Chartered Bank, said that as Trump is friendly to Biden in Bitcoin regulation and mining, as Trump's chances of being elected are increasing, it is expected that Bitcoin will rise to $100,000 in the November election, and is expected to reach $200,000 by the end of next year.

​Donald Trump will still give a speech at the Bitcoin 2024 conference in Nashville. Earlier, when Trump gave a speech at a campaign rally in Pennsylvania, USA, gunshots were heard at the scene, Trump's toddler was bloody, one person in the audience was killed, two were injured, and the gunman had been shot dead by the US Secret Service. According to data, in the past 46 days, the liquidity staking protocol has accumulated another 290,000 ETH, and this growth has increased the proportion of ETH in the liquidity staking protocol by 0.24%. It accounts for 11.18% of Ethereum's 120.2 million circulating supply.

​Since July 1, the average transaction fee on the Bitcoin blockchain has remained below $2, the lowest level since October 2023. According to btinfochhrts.com data, the average fee for a transaction is 0.000026BTC or $1.54, which is equivalent to 15.5 seconds. BB's lower fees and BTC's lower price have led to a sharp drop in hash prices. Hash price refers to the estimated value of one embryo hash per second PHS hash. The current hash price is below $50, and the beautiful embryo hash is $48.62. This shows that Bitcoin miners are still under great pressure. According to CMB Fed Watch, the probability that the Fed will keep interest rates unchanged in August is 93.3%. The probability of a 25 basis point rate cut is 6.7%, the probability that the Fed will keep interest rates unchanged until September is 5.6%, the probability of a cumulative rate cut of 25 basis points is 88.1%, and the probability of a cumulative rate cut of 50 basis points is 6.3%.

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