Daily Macro

Bitcoin Market Performance:Trump’s victory in the U.S. election has lifted market sentiment, with Bitcoin surging to a record high of $75,000, up 7.3% on the day. Investor optimism regarding economic policy under the new administration is fueling increased demand for Bitcoin.

ETF Activity:BTC ETFs saw a net outflow of $116 million yesterday.

ETH ETFs saw a net inflow of $0 million yesterday.

Macroeconomic Data:Goldman Sachs forecasts that the Federal Reserve will cut rates twice more this year, with an additional four cuts expected in the first half of next year.

Daily Focus

Bitcoin

Reason for Focus:Trump’s win has sparked expectations of policy changes that could benefit traditional markets and drive increased demand for crypto assets. Many view this event as a historic moment likely to further boost Bitcoin and similar assets.

Related Token Performance:

BTC: +7.3% (24h)

Outlook:Optimism around Trump’s policies may continue to support Bitcoin’s strong performance in the short term. However, volatility at high prices could increase, so investors are advised to remain cautious and manage risk effectively.

DOGE

Reason for Focus:Dogecoin has become strongly linked to the U.S. presidential election, bolstered by the support of Elon Musk, a prominent Trump advocate. Musk’s backing has increased DOGE’s appeal, positioning it as a hallmark token of this election season. Known as a “people’s cryptocurrency,” DOGE gained traction among retail investors post-election, fueled by Musk’s continued endorsements.

Related Token Performance:

DOGE: +10.2% (24h)

Outlook:With combined support from Musk and Trump, DOGE is likely to maintain heightened market interest in the short term, especially driven by social media and retail market enthusiasm. However, as a sentiment-driven token, it may experience significant price volatility, and investors should approach with caution.

Next Focus

PYTH

Reason for Focus:Asset management giant VanEck announced the launch of a new ETN product based on the Pyth Network token (PYTH), allowing investors to gain exposure to PYTH’s performance without directly purchasing or storing cryptocurrency. This move provides traditional investors with a new way to enter the crypto market.

Related Asset:

$PYTH: +11%

Outlook:The PYTH ETN will be listed on Euronext Amsterdam and Euronext Paris, allowing investors from 15 European countries to trade the product. This listing is expected to attract further interest in the crypto market from traditional European investors, expanding the mainstream adoption of digital assets.

CoinEx Daily: Trump Wins U.S. Presidential Election; Bitcoin Hits New High of $75,000