Americans vote in the midterms TODAY, and $BTC is walking into it 5.3% lower than a week ago.
Morning digest, Nov 3:
1. Election day. Control of Congress is on the ballot, and with it the pace of US crypto rules. Plenty of traders are cutting leverage instead of holding it through the result. BTC sits at $76,630 (-2.1% in 24h, range $76,389–$78,357).
2. Fed hangover. On Oct 28 the Fed held at 3.75%–4.00% in a 10-2 vote, and both dissenters wanted a HIKE. The year-end cut hopes got repriced, and risk assets haven't liked it.
3. Exchange security. Markets are still digesting last week's Binance hot-wallet exploit. CZ says the losses were covered from the company's own balance sheet with no new funding raised.
4. Sentiment. The Alternative.me Fear & Greed Index dropped to 26 (Fear), from 48 a week ago.
The odd one out: $HYPE is up 2.9% on the week at $83.54 while ETH (-4.0%), SOL (-9.3%), BNB (-6.9%) and STRK (-12.2%) bleed. It's still -3.7% today, so it isn't bulletproof.
Also watch $XRP: flat in 24h (-0.02%) at $1.2534 while the rest of the board is red.
Are you trading the election result or sitting it out?
Not financial advice.
#CryptoNews #Midterms #Bitcoin
Morning digest, Nov 3:
1. Election day. Control of Congress is on the ballot, and with it the pace of US crypto rules. Plenty of traders are cutting leverage instead of holding it through the result. BTC sits at $76,630 (-2.1% in 24h, range $76,389–$78,357).
2. Fed hangover. On Oct 28 the Fed held at 3.75%–4.00% in a 10-2 vote, and both dissenters wanted a HIKE. The year-end cut hopes got repriced, and risk assets haven't liked it.
3. Exchange security. Markets are still digesting last week's Binance hot-wallet exploit. CZ says the losses were covered from the company's own balance sheet with no new funding raised.
4. Sentiment. The Alternative.me Fear & Greed Index dropped to 26 (Fear), from 48 a week ago.
The odd one out: $HYPE is up 2.9% on the week at $83.54 while ETH (-4.0%), SOL (-9.3%), BNB (-6.9%) and STRK (-12.2%) bleed. It's still -3.7% today, so it isn't bulletproof.
Also watch $XRP: flat in 24h (-0.02%) at $1.2534 while the rest of the board is red.
Are you trading the election result or sitting it out?
Not financial advice.
#CryptoNews #Midterms #Bitcoin