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Market dynamics on November 5: Both BTC and altcoins are falling, the market is quiet, the US election is approaching, and there is a strong wait-and-see atmosphere

Market dynamics on November 5: Both BTC and altcoins are falling, the market is quiet, the US election is approaching, and there is a strong wait-and-see atmosphere

Bitget2024/11/05 02:26

I. Market Dynamics

1. BTC is falling, altcoins are generally falling, the market lacks hotspots.

2. U.S stocks are falling. The countdown to the U.S election has begun and there's a strong wait-and-see sentiment in the market.

II. Market Focus

1. Small coins such as TROY and SANTOS are rising. They're all new contracts opened by bn for small coins; TROY is transitioning from being a dealer stock to doing AI MEME.

2. Musk-themed DOGE, MASK etc., are on the rise.Trump temporarily leads in Pennsylvania, the biggest swing state.

3. The major trend is that funds are moving from CEX to DEX; centralized exchanges will gradually decline in future and even their most profitable contract business will be replaced by chain-based MEMEs.Long-term view suggests planned economies definitely can't keep up with the evolution speed of free economies.Since this year,the proportion of DEX/CEX trading volume has increased from 8% to a new high of 15%, doubling its value.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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