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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.
- 22:05Fed Governor Waller: Stablecoin Is Like a Synthetic Dollar That Will Solidify the Dollar as a Reserve CurrencyGold Finance reports that Federal Reserve Governor Waller gave a speech saying that stablecoin is like a kind of synthetic dollar, and if it can make payments faster and cheaper, I'm all for it. There is an urgent need to regulate stablecoins, and the sooner the better. The stablecoin would allow the dollar to further cement its position as a reserve currency.
- 22:04U.S. Treasury Secretary: the U.S. under Trump will still have a strong dollar policyGolden Finance reports that U.S. Treasury Secretary Benjamin Bessent said that the U.S. under Trump continues to pursue a strong dollar policy. He said in an interview that the strong dollar policy has not wavered at all, “We want a strong dollar. We don't want other countries to manipulate trade by devaluing their currencies.”
- 21:49The dollar index rose 0.1 percent on 6The U.S. dollar index, which measures the greenback against six major currencies, rose 0.1% on the day to close at 107.690 at the end of the currency market. Yen 152.53 yen for 1 U.S. dollar, down from 152.53 yen in the previous session; 0.9051 Swiss francs for 1 U.S. dollar, up from 0.9010 Swiss francs in the previous session; 1.4319 Canadian dollars for 1 U.S. dollar, up from 1.4315 Canadian dollars in the previous session; 10.8963 Swedish kronor for 1 U.S. dollar, up from 10.8955 Swedish kronor in the previous session.