After reaching around $69,500 yesterday, Bitcoin was unable to continue its upward momentum and opened a new round of declines after 0:00 today (5th), with the lowest point reaching $66,822, returning to the low point of the consolidation at the end of October.
At the time of writing, there has been a wave of rebounds, briefly breaking through $68,000, and is currently temporarily reported at $67,703, with a decline of 1.52% in the past 24 hours. As for the reason for this decline, it is speculated that it is related to investors choosing to hedge before the US presidential election and the Fed's announcement of interest rate policy.
As for Ethereum, the lowest point in the early morning was $2,357, and it is currently temporarily reported at $2,384, with a decline of 3.2% in the past 24 hours.
Over the past 24 hours, the entire network has been liquidated for $211 million
According to data from Coinglass, during the volatile decline of Bitcoin, the total amount of cryptocurrency liquidation on the entire network exceeded $211 million in the past 24 hours (long positions accounted for $157 million), with more than 83,000 people being liquidated.
The four major US indices have declined
The four major US stock indices also declined at the close on Monday, but Nvidia rose 1.4% during the day, with a market value of $3.36 trillion, once again surpassing Apple to become the global market value leader, but was later reversed.
- The Dow Jones Industrial Average fell 257.59 points or 0.61%, closing at 41,794.60 points
- The S&P 500 index fell 16.11 points or 0.28%, closing at 5,712.69 points
- The Nasdaq index fell 59.94 points or 0.33%, closing at 18,179.98 points
- The Philadelphia Semiconductor Index fell 27.43 points or 0.55%, closing at 4,973.99 points
The probability of the Fed cutting rates by one point is 99.5%
According to the CME Group Fed Watch tool, the market currently believes that the probability of a 1-point rate cut this month has risen again to 99.5%, and the probability of a 2-point rate cut is 0.5%, with no one believing that the Fed will maintain the interest rate unchanged.
