Bitcoin had a strong surge to break through $70,000 after the US stock market opened last night. Although selling pressure emerged later, and there was a sharp drop in the early hours of this morning, it quickly rebounded and rose strongly again around 8 a.m. this (6th) morning, reaching a high of $71,458.
As for the reason for this surge, it is speculated that it may be related to investors' belief that the current vote counting results are favorable for Trump's re-election. However, due to time zone differences and varying state regulations, the voting in different states will not end at the same time, with the latest ending at 2 p.m. Taiwan time on November 6, so the results may still see major changes.
As for Ethereum, it briefly broke through $2,500 earlier but then fell back, overall still following the trend of Bitcoin.
Over $214 million in liquidations across the network in the past 24 hours
According to data from Coinglass, in the volatile Bitcoin market, over $240 million in cryptocurrency was liquidated across the network in the past 24 hours (with short positions accounting for $138 million), and over 67,000 people were liquidated. Bitcoin's volatility has increased significantly, so investors should be cautious.
Four major US indices rise
Although the US election is still full of variables, investors seem optimistic about the economic outlook, with the four major indices closing higher across the board.
- The Dow Jones Industrial Average rose 427.28 points or 1.02% to close at 42,221.88 points.
- The S&P 500 index rose 70.07 points or 1.23% to close at 5,782.76 points.
- The Nasdaq Composite index rose 259.19 points or 1.43% to close at 18,439.17 points.
- The Philadelphia Semiconductor Index rose 83.84 points or 1.69% to close at 5,057.83 points.
