The 2024 U.S. presidential election is still in the counting process; currently, Trump has secured 277 electoral votes, exceeding the 270 needed for victory, thus locking in his win early. Meanwhile, Harris currently has 224 votes. Following Trump's announcement of victory in this election, the stock market reacted strongly, with the three major U.S. stock index futures all rising by nearly 2%. As of now, the S&P 500 index futures have risen by 1.86%, the Nasdaq 100 index futures have increased by 1.7%, and the Dow futures surged by 875 points, an increase of 2.05%. The Russell 2000 index futures even soared over 4.78%. Additionally, the yield on U.S. 10-year Treasury bonds has risen to 4.41%, showing a strong reaction in the U.S. bond market. The dollar index rose by 1.53%, briefly reaching 105.19, a new high in four months.
In this strong market environment, Bitcoin has performed excellently, with an intraday increase of 7.1%. Currently, BTC's bull market trend remains strong, and it is expected to continue breaking through the $80,000 mark. Although some corrections may occur in the short term, considering the current positive factors, short-term adjustments will have a minimal impact on the market; holders can continue to hold on and wait for a larger breakthrough.
Ethereum is also influenced by the positive market sentiment and shows an upward trend. ETH may break through the $3,000 mark in this wave of market activity, and given the current intensity of the increase, November may see even higher prices, with targets of $3,400 or even higher being anticipated. Historical data also indicates that in bull markets, ETH's increase often exceeds that of BTC, so ETH is expected to perform stronger in this bull market.
Regarding mainstream coins:
BNB: Moving in sync with the market, still bullish.
XRP: Ripple has also seen a slight increase and is expected to have further upward momentum in the near future.
SOL: SOL price has surged, and the trend remains strong, continuing to be bullish on the upward market in conjunction with the overall market.
DOGE: Once the upward cycle of Dogecoin starts, it will continue for a while, with still room for increase.
BCH: BCH's performance is also very strong, rising in conjunction with the market, and remains bullish.
AR: After two months of consolidation, a strong surge is expected in November.
UNI: UNI has surged significantly, but considering the rapid increase, a correction may occur in the short term.
OP: OP continues to move in conjunction with Ethereum, remaining bullish on its further increase.
Summary:
Trump's victory is undoubtedly a significant positive factor for the crypto market. Combined with the previous approval of the Bitcoin ETF, this series of good news provides strong support for the current bull market. We can foresee that this round of the bull market could potentially be the strongest in history. Although it is difficult to accurately predict the specific increase of Bitcoin in the short term, a target of $150,000 is a relatively conservative expectation, and breaking through $200,000 or even $250,000 is not impossible. It is expected that November will maintain an upward momentum, with an overall increase greater than in October, and there may also be a rotation market, with mainstream altcoins experiencing a wave of increases. Retail investors should hold on and wait for the final peak of the bull market.
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