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BTC did not disappoint expectations. Around 6 AM this morning, the price once again broke through $70,000, briefly exceeding $71,000, with a 24-hour increase of over 4%, currently hovering around $71,000.
Bitcoin is poised for a potential increase in value as the U.S. elections on November 5 approach; however, analysts caution that a sell-off could follow.The largest digital asset by market capitalization is now trading just below the $69,000 mark, with just over one week to go before the U.S. presidential election on November 5.
Ethereum’s infrastructure limitations are leading users, applications, and capital to migrate to Layer 2 solutions and competing blockchains like Solana, an analyst said.Another analyst noted that liquidity fragmentation across Ethereum’s Layer 2 networks poses a risk to market efficiency.
- 10:19Data: AguilaTrades Begins Rolling Over Floating Profits, Increases Position to $216 MillionChainCatcher reports that, according to on-chain analyst Yujin, AguilaTrades has started rolling over its floating profits and increased its position to $216 million. Currently, they hold a long position of 2,000 BTC, valued at $216 million, with an entry price of $107,459 and a liquidation price of $104,020. At present, the unrealized profit stands at $1.22 million.
- 09:59Data: Stablecoin USD1 Hits Record High with $1.25 Billion in 24-Hour Trading VolumeOdaily Planet Daily reported that according to repost data on the X platform, the Trump family’s crypto project WLFI saw its stablecoin USD1 reach a 24-hour trading volume of $1.25 billion, setting a new all-time high and ranking just behind Tether (USDT) and USDC.
- 09:43Musk Criticizes Senate Passage of "Big and Beautiful Act": Will Destroy Millions of American JobsAccording to Jinse Finance, Musk commented on the Senate's passage of Trump's "Big and Beautiful Act" on the X platform: "The Senate's latest bill will destroy millions of jobs in the United States and cause enormous strategic harm to the country. It is extremely reckless and destructive. While it offers handouts to industries of the past, it severely undermines the industries of the future."