Crypto Market: Election Days Impact Recent Industry Developments

Bitcoin prices have been volatile in recent days due to the Trump trade and the upcoming US presidential election. Bitcoin options markets have been relatively quiet, but volatility is expected to rise around November 5-8. The altcoin market is also subdued, with Bitcoin dominance reaching a new high of over 60%.

The election is also expected to impact the US economy, which has been resilient despite recent disruptions. The Federal Reserve is expected to be cautious with interest rate cuts, focusing on maintaining growth. In the cryptocurrency industry, regulatory challenges and notable growth continue. Immutable faces potential regulatory action from the SEC over its IMX token, while Tether reported record profits in the third quarter.

The state of Florida is considering expanding its cryptocurrency portfolio as a hedge against federal control.

Source

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