Trump trading resumes, Bitcoin returns to 70,000 mark

The three major US stock indices closed slightly higher yesterday, while US Treasuries remained under pressure. Bit coin briefly rose to $70,270, and as Trump's momentum continues to grow, the atmosphere of the "Trump trade" seems to be getting stronger. (Will Trump's victory probability increase trigger the "Trump trade"? Is Bit coin also part of the "Trump trade"?) [Image] Table of Contents Toggle - TSMC plunges 4%, the "Trump trade" resurfaces - Bit coin returns to the 70,000 level - Important data and super earnings week ahead TSMC plunges 4%, the "Trump trade" resurfaces Huawei is suspected of obtaining TSMC chips through a straw man, and yesterday Trump (Donald Trump) again mentioned on a program that "Taiwan stole 95% of the chip business, but wants the US to protect it, and needs to pay a protection fee." TSMC ADR fell more than 4%. (Trump calls China a "war machine", Taiwan stole 95% of the chip business: pay the US protection fee) The market seems to be betting more on Trump's victory, the three major US stock indices closed slightly higher, US Treasuries remained under pressure, with the 10-year yield reaching as high as 4.3% intraday, Bit coin briefly rose to $70,270, and Trump's social media company surged 22%. Bit coin returns to the 70,000 level Yesterday, Bit coin challenged the 70,000 round number again, reaching a high of $70,270. Bitget Research chief analyst Ryan Lee believes that Bit coin prices may surge before the US election on November 5, and he also mentioned that Trump's recent interview on the Joe Rogan Experience has received over 32 million views, raising his Polymarket odds to over 66%. However, QCP Capital analysts said that although cryptocurrencies are related to the "Trump trade", the correlation between Bit coin and Trump's odds seems to be weakening. Analysts warn that regardless of the winner, Bit coin may see a sell-off in the days following the announcement of the election results. [Image] Important data and super earnings week ahead This week will see the release of many heavyweight earnings reports, including the focus on the tech giants Apple, Microsoft, Amazon, Google and Meta. In addition, MicroStrategy (MSTR) and the exchange Coinbase (COIN) will also report their earnings after the US market close on Wednesday. On the economic data front, there is the third-quarter GDP estimate to be released by the US Department of Commerce on Wednesday, the core personal consumption expenditures price index (PCE) on Thursday, and the non-farm payroll data on Friday. The market will continue to examine the possibility of a "soft landing" for the US economy. And with the US election entering the final countdown, it is all weighing on investors' nerves.