Crypto
The crypto market is on edge as two major events this week have the potential to send prices swinging in either direction. Last week saw a surge in Bitcoin and altcoins, pushing investor optimism to new heights.
But as the weekend drew to a close, the market pulled back slightly, with total capitalization dipping to $2.4 trillion.
With the stakes higher than ever, crypto investors and traders are gearing up for a potentially turbulent week, watching closely to see how these events will shape the market’s next moves. Here’s a closer look at what to expect from both the U.S. election and the Federal Reserve meeting, and why they’re set to bring volatility to the crypto space.
The U.S. Presidential Election – November 5
The U.S. Presidential election is tomorrow, and its impact on crypto could be massive. Cryptocurrency policy was a hot topic during the campaign, and with one candidate openly supportive of digital currencies, the stakes couldn’t be higher.
Donald Trump, who has emerged as a “crypto-friendly” candidate, has proposed ambitious plans, including the creation of a U.S. Bitcoin reserve, which could put America at the forefront of the digital asset revolution. Trump’s stance has garnered him the support of crypto enthusiasts, as he promises to boost Bitcoin adoption and establish the U.S. as a global leader in digital currencies.
On the other side is Kamala Harris, who has sent mixed signals about the future of crypto. While her administration under Joe Biden hasn’t banned crypto, it has often introduced stricter regulations. A Harris win could lead to more caution and tighter regulations, potentially dampening the enthusiasm among U.S. investors and crypto companies.
The election results will influence not only short-term market sentiment but also long-term policies around digital currencies, taxes, and adoption in the U.S.
Federal Reserve Policy Meeting – November 7
The Federal Reserve is scheduled to announce its latest interest rate policy on Thursday. Analysts widely expect the Fed to implement a 0.25% rate cut, which could have a direct impact on inflation and, consequently, on crypto assets. Currently, the CME Fed Watch Tool shows a 98% probability of this rate cut, indicating st
