Analysis: Market attention to the US presidential election will further increase, and Bitcoin may see new momentum

Bitcoin hit a high of around $69,450 in Asian markets early Monday. "The $70,000 level is an important psychological resistance point, close to Bitcoin's all-time high," said Min Jung, an analyst at Presto Research. With less than three weeks to Election Day, we expect market attention to this key market event to increase further from now on, with cryptocurrency becoming a mainstream political issue for the first time, attracting a wider audience, said David Lawant, head of research at FalconX. Prediction market platform Polymarket shows that Trump has a probability of winning of about 60%, leading Harris by 21 percentage points. In FiveThirtyEight's traditional poll aggregation, Harris leads Trump by 1.8 percentage points at 48.2%. Nevertheless, the gap between the two candidates in national polls has narrowed from 3.1% on September 1. Augustine Fan, director of SOFA.org, said: "As attention to the results of the US election comes into focus, the most positive outcome for cryptocurrencies would be a Trump victory and a Republican sweep of the House and Senate, making it possible for the Trump-Vance-backed digital asset reform plan to pass Congress." Jung added: "If Trump's dominance continues and the Federal Reserve sends more dovish signals, we may see new momentum for Bitcoin in the weeks following these events." (The Block)