Overnight, the three major global stock market indices rose together, with the Nasdaq Composite Index leading the way with a 0.87% increase, followed by the S&P 500 Index, which rose 0.77%, and the Dow Jones Industrial Average, which also achieved a 0.47% increase. What is particularly noteworthy is that both the S&P 500 Index and the Dow Jones Industrial Average set new historical highs, while the Nasdaq Index hit a new high in about three months. In the technology giant camp, most stocks performed strongly, especially Nvidia, whose stock price rose by more than 2%, becoming the focus of the market.
At the same time, the cryptocurrency market has also ushered in a grand rise across the board. Bitcoin has broken through the $66,000 mark with an unstoppable momentum, and the trading volume has continued to rise, showing the market's high enthusiasm. Ethereum is also not to be outdone, breaking through $2,600 in one fell swoop, showing a strong rebound momentum. It is worth noting that the cryptocurrency of the meme sector has once again become a hot spot in the market. Its unique liquidity and no unlocking problems have attracted small investors. However, when choosing to build a position, investors still need to be wary of those currencies that are frequently unlocked and have higher risks, so as not to become the "leeks" that are cut.
Looking back at the market fluctuations in early October, giant whales and institutions took advantage of the uncertainty in U.S. economic data and the repeated expectations of the Federal Reserve's interest rate cuts to skillfully conduct smashing operations and successfully obtain the required chips. However, as the U.S. presidential election approaches, political factors begin to have a profound impact on the market. The election contest between Trump and Harris, as well as the positive attitudes of both parties towards the crypto market, have injected new vitality into the market. Therefore, there is reason to believe that before November 5, the encryption market is expected to usher in a significant wave of upward momentum.
$BTC 's performance yesterday was particularly eye-catching. Starting from $62,400, it soared all the way to around $66,300, with an increase of nearly 4,000 points. This strong trend not only broke through the heavy pressure above, but also indicated the recovery of bullish power. Friends who gave short orders around 65,000 yesterday can cover their positions and continue to hold. Wait for the market to pull back. From a technical point of view, Bitcoin's daily line has formed a double bottom upward trend, and the short-term pressure level is at $66,500. If it can effectively break through and stand firm at this position, it is expected to rebound further to $68,000. At the same time, the continuous positive rising pattern on the 4-hour chart also shows that the market is in a trend of high-level fluctuations and upward testing. Therefore, investors should pay close attention to market trends. Personal operation suggestions: Bitcoin is short near 66,500-66,000, with a target near 64,500. At this time, you can pay attention to the support at this position, and enter the market without breaking 64,500-64,800 long orders. Target 66,500.
$ETH 's breakthrough is also exciting. While many people are pessimistic about it, Ethereum has broken through the $2,600 mark at an astonishing speed. At present, its daily line is close to the pressure level of the weekly MA60 daily average line ($2,670). If it can effectively break through this position, it is expected to continue to rise and test the previous high price band of $2,700-2,730. From a short-term level, Ethereum's trend is relatively strong. Once it stands firm at the key resistance level, it is expected to move towards a higher target. In addition, it is worth noting that the recent rise in Bitcoin has had a significant driving effect on cryptocurrencies such as Ethereum. Therefore, in the subsequent market conditions, investors can still make arrangements around long positions and pay close attention to market dynamics. Ethereum operation suggestions: It is recommended to go short at 2721-2690, defend 2830 to cover, and target 2630.
