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BTC did not disappoint expectations. Around 6 AM this morning, the price once again broke through $70,000, briefly exceeding $71,000, with a 24-hour increase of over 4%, currently hovering around $71,000.
Bitcoin is poised for a potential increase in value as the U.S. elections on November 5 approach; however, analysts caution that a sell-off could follow.The largest digital asset by market capitalization is now trading just below the $69,000 mark, with just over one week to go before the U.S. presidential election on November 5.
Ethereum’s infrastructure limitations are leading users, applications, and capital to migrate to Layer 2 solutions and competing blockchains like Solana, an analyst said.Another analyst noted that liquidity fragmentation across Ethereum’s Layer 2 networks poses a risk to market efficiency.
- 07:56Optimism has launched a new round of Retro Funding program, with a reward scale of 8 million OPThe Ethereum Layer 2 solution, Optimism, has announced the launch of a new round of Retro Funding program with a reward scale of 8 million OP. This round focuses on the field of development tools (Dev Tooling). The rewards will be used to support builders developing applications and tools on the superchain, such as compilers, libraries and debuggers. The time frame for this round is from February 5th to July 31st. Applications are now open and all project applications must be open source. Rewards are expected to start being distributed monthly from March onwards.
- 07:53MetaMask: Added support for transfers via ENS domain names on L2The encrypted wallet app MetaMask announced on Twitter that it now supports transfers via ENS domain names on L2.
- 07:31Analyst: Trump's interest rate cut on 10-year treasury bonds may potentially benefit the rise of BitcoinCoindesk analyst Omkar Godbole stated that US Treasury Secretary Scott Bessent said in an interview on Wednesday that the Trump administration aims to reduce borrowing costs by lowering the yield of 10-year U.S. Treasury bonds. A decrease in the 10-year yield is often seen as beneficial for risk assets, including Bitcoin (BTC). Trump plans to lower yields by controlling inflation, which could be beneficial for BTC, but reducing budget deficits may not be favorable for risk assets.