The Fed's interest rate decision postponed to November 8 due to the US election
Due to the US election and daylight saving time, the Fed has decided to announce the interest rate decision at 3:00 am Eastern Time on November 8. Normally, the Fed holds meetings on Tuesdays and Wednesdays and announces the decision on Thursday mornings, but this time it coincides with the US election, so the Fed's monetary policy meeting has been postponed by one day.
Bitcoin whales reduce positions to avoid risks before the US election
On-chain analysts have observed that Bitcoin whales have been reducing their holdings before the US election, and as of November 5, the number of addresses holding more than 1,000 BTC has decreased by 2%.
The US presidential election is crucial for the Fed and Powell
The result of the 2024 US presidential election may have a significant impact on the Fed and its chairman Powell, whose term will end in May 2026. The next president will appoint the key position of Fed chairman, which could change the regulatory direction of cryptocurrency policy. If Trump wins, he will take a more proactive stance, as he has previously criticized Powell and hinted at firing him.
Goldman Sachs analyst: US stocks are unlikely to enter a bear market cycle in the next 12 months
Goldman Sachs analysts predict that the likelihood of the US stock market entering a bear market in the next 12 months is relatively low (only 18%), as the recovery of the US economy will support the stable development of the market. Despite the risk of the presidential election, driven by large-tech stocks, the S&P 500 index has risen about 20% this year after soaring nearly 25% in 2023.
Grayscale: The US remains an important market for the cryptocurrency industry
Grayscale posted on the X platform that although the cryptocurrency industry has spread globally, the US remains the most important market for the industry due to its economic scale and the influence of the US dollar, and its importance is becoming increasingly prominent during the US election.
The US election has caused tension in the financial markets, and Wall Street is on high alert
The uncertainty of the US election results has put Wall Street on high alert, with trading desks operating around the clock with support from teams in Hong Kong and Singapore. Banks have also made full preparations for potential social unrest; JPMorgan has increased staffing in Europe and Asia, while hundreds of Goldman Sachs employees are working late in New York to ensure continuous market monitoring and rapid response.
