Currently, the vote counting and voting activities in some states are still ongoing, and more important election results will be announced in the coming hours.
Written by: 1912212.eth, Foresight News
The U.S. presidential election has become the focus of global attention in recent days. November 5, Eastern Time, is the official voting day for the U.S. presidential election. Except for a few congressional districts, polling stations in Indiana and Kentucky have closed, making them the first two states to end voting in the 2024 U.S. presidential election. Due to time zone differences and varying voting deadlines across states, the end times for voting differ. Alaska will close voting at 1 AM Eastern Time on November 6 (2 PM Beijing Time), making it the last state to end voting.
The cryptocurrency market is experiencing significant volatility. Last night Beijing time, BTC surged from $68,000 to over $70,000, and after fluctuating around that level for several hours, it slid back down to around $68,000 around 3 AM.
As of around 7:28 AM Beijing time today, following the release of Edison Research exit polls, shares of Trump Media & Technology Group (DJT.O) rose sharply in after-hours trading, increasing by over 6.5% at one point. Around 8 AM, the Associated Press reported that Harris won Vermont, while Trump won Indiana and Kentucky. Subsequently, BTC broke through $70,000 again. A few minutes later, at 8:32 AM, the Associated Press reported that Trump won West Virginia, and upon this news, shares of Trump Media & Technology Group (DJT.O) surged by 30% in after-hours trading.
Currently, Bitcoin has risen above $71,000, and the cryptocurrency market is experiencing a broad rally. Ethereum has risen from around $2,300 to about $2,500, SOL has increased from $160 to around $170, and many altcoins have rebounded significantly after a major correction a few days ago. ENA has risen over 13% in 24 hours, now around $0.37, while DOGE has increased over 12% in 24 hours, now above $0.18.
In terms of contract data, due to market participants proactively reducing leverage before the election and the significant volatility leading to liquidations, the liquidation data is not particularly large. According to coinglass data, the total liquidation across the network in the past 24 hours was $214 million, with $140 million in short liquidations.
It is worth mentioning that as Trump's chances of winning increased, related MEME tokens saw significant rises: TRUMP rose over 16% in 24 hours, PAC rose over 113%, MAGA rose over 19%, and PEOPLE rose over 14%.
As of 9 AM Beijing time, polling stations in 16 states and Washington D.C. have closed. According to the Associated Press, Republican presidential candidate Trump has won Alabama, Mississippi, South Carolina, Oklahoma, Florida, and Tennessee, totaling 95 electoral votes. Democratic candidate Harris has won Massachusetts, Connecticut, Maryland, Rhode Island, and Washington D.C., totaling 35 electoral votes.
Currently, the vote counting and voting activities in some states are still ongoing, and more important election results will be announced in the coming hours.
As of 9:46 AM, Polymarket data shows that the market predicts Trump's probability of winning the U.S. presidential election has risen to over 70%, while Harris's probability has fallen below 30%.
Trump himself stated around 9 AM today that if he wins Pennsylvania, he wins the entire election, saying, "The biggest question" is whether he can gain more support in Philadelphia, which has long been a Democratic stronghold.
Matrixport had previously released a report last month indicating that Trump's victory could be beneficial for Bitcoin, and traders should prepare for a bullish market following Trump's potential win. Trader Eugene also stated that if Trump wins the election, Bitcoin's increase could be the largest.
(Continuously updated)
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