On the morning of October 29, the price of Bitcoin broke through $71,000 per coin, with a 24-hour increase exceeding 5%, while Ethereum rose nearly 5%. The sudden surge has caused many short sellers to be liquidated; within one hour, the liquidation amount in the market exceeded $73 million. In the past 24 hours, the total number of liquidations exceeded 73,000, with a liquidation amount reaching $242 million.

Analysts pointed out that the rise is related to multiple stimulating news. Among them, Trump's poll numbers surpassing Harris is the biggest stimulating factor. Additionally, tech giant Microsoft, with a market value of over $3 trillion, is considering whether to hold.