The cryptocurrency market has once again seen a widespread decline, affected by the continued weakness of the "Trump trade". As of the time of writing, Bitcoin is reported at $67,939, down 1.4%, and Ethereum is reported at $2,407, down 2.32%.
In the foreign exchange and commodity markets, the "Trump trade" has been scaled back, and with the expectation of a 25-basis-point rate cut by the Federal Reserve on Thursday, the US dollar index fell more than 0.4% to a two-week low on the eve of the election, with non-US currencies generally rising. Affected by OPEC+'s announcement to delay production increases, oil prices were supported, with intraday highs rising by nearly 3%. Gold prices were boosted by the need for safe-haven assets due to the uncertainty of the US election, expectations of a Federal Reserve rate cut, and the US dollar index hitting a two-week low, with spot gold closing up 0.05% in the US stock market.
Over the past few days, a series of polls have shown that the gap in the winning chances between Trump and Harris is rapidly narrowing, and the two sides are currently very close in terms of votes, with the market concerned that a controversial vote count could delay the election result by several days, and that if Trump loses the election, his supporters may cite these data to "corroborate" election fraud, leading to unrest. Another catalyst for risk aversion is the Federal Reserve's interest rate decision on Thursday and Powell's remarks at the press conference.
As two storms loom this week, market volatility has increased and the demand for safe-haven assets has increased. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets, and has recently launched a USDT stable coin wealth management product with an annualized yield of 5.5%, providing investors with a potential safe-haven option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
