ChainCatcher news, according to Bloomberg, following the significant success of the cryptocurrency industry in last year's U.S. elections, Canadian digital asset companies have begun to apply the lessons they learned.It is reported that the Canadian crypto industry hopes to see digital assets become a bigger focus in that election, just like in the U.S. In July, Stand With Crypto expanded to Canada, but the Canadian branch does not intend to support candidates in the upcoming elections. Instead, its goal is to "inspire the cryptocurrency advocacy community" and launch a grassroots movement for supporters to engage in dialogue with other Canadians and their parliamentary members.Although cryptocurrency may not be a political focal point in Canada, the country has played a significant role in the industry. The second-largest cryptocurrency, Ethereum, was born in the country, and Canada is home to the world's first Bitcoin ETF. Other issues that the Canadian crypto industry lobbies for include allowing the use of Bitcoin in retirement savings plans and tax-free savings accounts, as well as incorporating crypto into open banking legislation.So far, no political party in the country has supported the industry, but digital asset companies have been trying to position crypto as a way to enhance affordability—an important focus in Canadian politics.

ChainCatcher news, Spartan Group analysis indicates that in the 2024 U.S. presidential election, Trump not only won the election with an overwhelming advantage, but the Republican Party also took control of both the Senate and the House of Representatives. This victory provides significant leverage for driving policy changes, and it is expected to be very favorable for the crypto industry in the next 12 months.The article points out that the difference in this election lies in the importance of the crypto agenda. Trump and his core advisors are crypto-friendly, and crypto companies provided substantial support during the election. Additionally, Trump expressed a desire for the U.S. to become a global crypto hub. Currently, the U.S. is a leader in crypto infrastructure, mining, and trading, but the new government's policies may further solidify this position.Historical data shows that the 12 months following a U.S. election are typically a strong performance period for crypto assets. The clarity of policies resulting from the election and the overlapping effects of the BTC halving cycle may shift market sentiment towards risk appetite, particularly benefiting the performance of small and medium-sized tokens. Spartan Group believes that as the "altcoin season" approaches, the crypto market will see more upward potential in the coming year.

ChainCatcher news, over 100 legal leaders have signed an open letter warning lawyers questioning the U.S. election not to spread false information in court documents. It is reported that Trump filed numerous lawsuits after losing the 2020 election, claiming that the Democrats cheated in the election. A few prominent lawyers who worked for Trump, including Rudy Giuliani, lost their licenses for spreading false information.

ChainCatcher news, Matrixport released a chart stating that as the U.S. presidential election approaches, market traders' anxiety has increased, but BTC remains in a neutral zone. Currently, Bitcoin's 21-day Relative Strength Index (RSI) has dropped to 56%, well below the 70% overbought threshold, indicating that Bitcoin is neither overbought nor oversold.Since a neutral RSI typically suggests that traders are less impacted by market fluctuations, a neutral RSI implies that Bitcoin's risk premium (including high implied volatility) may decrease after the election.This stands in stark contrast to the bear market decline when the RSI value reached 80% in March, while a significant rebound occurred in July and August when the RSI was only 25%. Considering this situation, selling volatility this week seems to be a potentially attractive strategy.

ChainCatcher news, Piper Sandler & Co. options chief Daniel Kirsch stated: "We continue to see interest in U.S. election trading, which has picked up in recent days. Clients expecting Trump to win the election are increasing their exposure to financial and cryptocurrency stocks, while those betting on Harris are buying options on renewable energy stocks. Hedging has also increased, with traders buying put options on the S&P 500 index and QQQ ETF."Short-term S&P 500 implied volatility has remained elevated relative to the one-month level, as the impacts of the election and Federal Reserve rate hikes have permeated the calculations of short-term indicators. The Cboe VVIX index, which measures VIX volatility, is also at a high level.Penn Mutual Asset Management portfolio manager Zhiwei Ren commented: "Currently, the options skew is significant, with VIX far above actual volatility. These signs indicate that market hedging measures are in place."

ChainCatcher news, Citadel CEO Ken Griffin stated that with the uncertainty behind us, we will see a "risk-on" environment for asset prices following the election.

ChainCatcher news, according to Cointelegraph, based on regulatory documents submitted to the Commodity Futures Trading Commission (CFTC), Kalshi is launching more political event prediction markets ahead of the U.S. elections, including the results of the Ohio statewide referendum and the announcement by the Associated Press (AP) of the results in the last state of the presidential race, among others.According to CFTC data, since October 31, Kalshi has registered over twenty contracts, most of which are related to the upcoming U.S. elections. According to the Kalshi website, as of November 1, the total betting volume for Kalshi's "Who will win the presidential election?" has reached approximately $144 million since its launch on October 7.Data from the platform shows that as of November 1, the probability of Trump winning the presidential election is 56%, while Harris's probability is 44%.

ChainCatcher news, Musk posted a Shiba Inu-related image on the X platform in conjunction with the U.S. elections, in which Musk is seen wearing a "Make America Great Again" hat and raising his fist, while the Shiba Inu in the image is making a similar gesture.Perhaps influenced by this, DOGE briefly surged past $0.14, currently reported at $0.145, with a 24-hour increase of 4.46%, and a market cap rising to approximately $21 billion.

ChainCatcher news, according to 4E monitoring, on Thursday, only the Dow Jones fell among the three major U.S. stock indices. Dragged down by the earnings reports of IBM and Honeywell, the Dow fell 0.33%, marking its fourth consecutive day of decline; the S&P 500 index rose 0.21%, halting a three-day losing streak; Tesla surged nearly 22%, supporting the Nasdaq and the consumer discretionary sector, with the Nasdaq reaching a peak increase of over 0.8% during the session. Most cryptocurrencies rose, with Bitcoin rebounding to surpass $68,000, up 0.9%, and Ethereum reported at $2,513, down 1.5%.In the foreign exchange bulk market, the U.S. dollar index fell about 0.4% on Thursday, ending a three-day rally and retreating from a nearly three-month high; as U.S. Treasury yields fell alongside the dollar, gold prices surged significantly. Spot gold jumped by $20.52, an increase of 0.76%, approaching historical highs again; concerns about a slowdown in the European economy negatively impacting oil demand, coupled with reports that the U.S. and Israel would attempt to restart negotiations on a ceasefire in Gaza, pressured oil prices, with U.S. oil and Brent oil rising over 2% before turning to a decline of more than 1%.Multiple economic data released in October support the market's bets on a regular 25 basis point rate cut by the Federal Reserve in November. The market is still focused on corporate earnings reports; so far, over 32% of companies in the S&P 500 index have reported their third-quarter results, with 76% of those companies exceeding analysts' expectations. Despite the continuous major news during earnings season, with the U.S. election approaching, the overall U.S. stock market remains directionless. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, bulk gold, and foreign exchange, recently launching a USDT stablecoin wealth management product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.

ChainCatcher news, QCP released a weekly summary stating that this week has been an exciting one for cryptocurrencies. BTC rose by 10.48%, reaching a high of $69,000, with the psychological barrier of $70,000 now within reach. There are no major macro data points to act as resistance next week.The inflow of BTC ETFs this week has been substantial. As of Friday, ETF inflows reached $203.3 million, and there has been a net inflow trend for six consecutive days. The continued inflow into ETFs indicates that institutional demand remains strong. With the SEC approving Bitcoin ETF options to be listed on the New York Stock Exchange (NYSE) this morning, it is believed that this will provide the necessary liquidity for ETFs, attracting sustainable capital inflows.Bitcoin's market share currently stands at a multi-year high of 58%, a level last seen in April 2021. As it approaches the key resistance level of 60%, we believe this will lay the foundation for a strong recovery of Layer 1 (L1) tokens.As the U.S. stock market approaches historical highs, the yen continues to weaken, and with the U.S. elections approaching, risk appetite will only strengthen further. This will drive up risk assets and support the "Uptober" rebound narrative.

ChainCatcher news, dYdX has launched a prediction contract market regarding the U.S. elections on the platform.Users can bet "yes" or "no" in the TRUMPWIN-USD market, with the final settlement price for each option being either $0 or $1, and the buy-in price at the time of betting being the cost price. It is worth mentioning that users can go long or short with up to 20x leverage (correct predictions can yield 20 times the profit, but conversely, a 5% adverse movement could lead to liquidation), which offers greater capital flexibility compared to traditional prediction markets.

ChainCatcher news, according to The Block, Standard Chartered's Global Head of Digital Assets Research Geoff Kendrick released a report stating that Bitcoin is showing upward momentum and may approach its historical high of $73,800 before the U.S. presidential election.Kendrick pointed out that multiple factors are driving this potential price increase, including a steepening U.S. Treasury yield curve, a revival of interest in spot Bitcoin ETFs, and an increased probability of Donald Trump winning the upcoming U.S. presidential election.According to the Polymarket prediction platform, Trump's chances have risen to 56.3%. If Trump wins, the probability of the Republican Party simultaneously controlling the Senate and the House of Representatives is 70%, which could create favorable conditions for risk assets, including Bitcoin.

ChainCatcher news, QCP Capital's latest analysis points out that the price of Bitcoin has risen from $62,000 to $65,000. Historical data shows that in the three weeks leading up to the U.S. elections in 2016 and 2020, Bitcoin began to rise significantly.From October this year to now, Bitcoin has only increased by 1.2%, far below the average increase of 21% in previous years. Analysts believe that the current price trend is similar to historical patterns, which may indicate a potential rise before the elections. However, investors should remain cautious and closely monitor market movements.

ChainCatcher news, according to data from Greeks.live, 18,000 BTC options are expiring, with a Put Call Ratio of 0.91, and the maximum pain point at $62,000, with a notional value of $1.1 billion. 212,000 ETH options are expiring, with a Put Call Ratio of 0.4, and the maximum pain point at $2,450, with a notional value of $510 million.Cryptocurrency remains weak, with fierce competition around the key level of $60,000, and ETH is also near the long-term support line of $2,300. A market reversal could happen at any moment. The market performance in the first two weeks of this fourth quarter has been poor, and the options market is also relatively sluggish, with the current open interest in options having fallen to a new low since 2023.However, a sluggish market also breeds new trading opportunities. The at-the-money implied volatility (IV) for BTC on November 8 is only 50%, making it very suitable for building some medium to long-term bullish positions at low levels. This week, large bullish trades are gradually becoming active, and there is a high possibility of market movement around the U.S. elections.

ChainCatcher news, according to official sources, the latest report from Coinbase titled "Ten Things About Crypto Voters" shows that as the U.S. elections approach, crypto voters will become an important voting demographic.A third-party study commissioned by Coinbase and conducted by Morning Consult found that the crypto voter demographic exhibits high diversity in age, gender, and political affiliation, but they generally believe that the financial system needs reform and that crypto technology can drive this change. These voters actively seek candidates who support cryptocurrency and advocate for reasonable crypto regulation policies to protect consumers and promote innovation.

ChainCatcher news, according to CoinDesk, the Commodity Futures Trading Commission (CFTC) has warned that election gambling related to the U.S. elections is about to see explosive growth, and has requested the appellate court to continue suspending Kalshi's political prediction market while the agency's appeal is still pending.In a document submitted on Saturday, the CFTC stated that the district court's order has been interpreted by Kalshi and others as the "open season for election gambling," referring to a ruling on September 6 that determined the CFTC should not block the company from offering contracts on which party will control both houses of Congress.The agency noted that following this ruling, Wall Street giant Interactive Brokers announced it would offer contracts for the presidential election through its CFTC-regulated subsidiary. The CFTC indicated that unless the U.S. Court of Appeals for the District of Columbia extends the suspension of Kalshi contracts during the appeal, other CFTC-regulated exchanges will follow suit.The CFTC reiterated that "the surge in election gambling on U.S. futures exchanges will harm the public interest." These harms include market manipulation and undermining the integrity of elections.

ChainCatcher news, the crypto political advocacy group "Stand With Crypto" will launch a multi-state tour on September 4 to influence the 2024 election, starting in Arizona. The organization has attracted over 1 million online registrations, aiming to convert these digital asset supporters into voting constituents.The organization's Executive Director Logan Dobson stated, "There are a large number of people interested in cryptocurrency, and our mission is to use campaign-like strategies to motivate them to vote. Crypto voters are already quite enthusiastic about this election."It is reported that "Stand With Crypto" has attracted nearly 27,000 Arizona crypto supporters to register on its website, and the organization's research indicates that over 80% of them are likely registered voters. In the 2020 election, the vote margin between Trump and Biden in the state was less than 11,000 votes.

ChainCatcher news, according to The Block, research firm Bernstein stated in a report that "the initial reaction of Bitcoin as a 'safe-haven' asset is not surprising, as this pattern often occurs in the Bitcoin market (previously seen during the flash crash in March 2020), especially since it is the only market that trades on weekends. We remain calm."Analysts added, "We do not see any incremental negative factors here. If the usual response to concerns about a U.S. economic recession is interest rate cuts and increased monetary liquidity, we expect the prices of 'hard assets' like Bitcoin (digital gold) to rise."However, Bernstein analysts indicated that Bitcoin remains a "Trump trade," as the market tends to support the pro-crypto stance of this U.S. presidential candidate. Analysts stated, "It is not surprising that Bitcoin and cryptocurrencies performed poorly when the odds between Trump and Harris on Polymarket narrowed. We expect the Bitcoin and cryptocurrency markets to remain range-bound before the U.S. elections, trading influenced by catalysts such as presidential debates and the final election results."Overall, Bernstein expects the crypto market to react to macroeconomic and election signals in the third quarter. However, analysts predict that if the broader stock market recovers due to the Federal Reserve's response, the Bitcoin and cryptocurrency markets will follow this trend.

ChainCatcher news, the co-founder of the decentralized trading platform Drift Protocol, Cindy, announced the launch of a U.S. election prediction market. Drift stated that the reasons for launching this market include: prediction markets are places for truth settlement; they can serve as platforms to observe public trends and opinion changes; based on a fully open-source blockchain, they cannot be manipulated; and the potential impact of political meme coins.The first version will be managed by the security committee of Drift DAO for market launch and arbitration, with plans to introduce a permissionless market in the second version.