Bitcoin Could Hit $100,000 Sooner than Expected, Solana Could Surge 400% on Trump Win: Crypto Market Weekly Watch

Bitcoin Could Hit $100,000 Sooner than Expected, Solana Could Surge 400% on Trump Win: Crypto Market Weekly Watch Driven by institutional inflows, economic instability, and political uncertainty, Bitcoin could break through the $100,000 mark sooner than anticipated. Meanwhile, Solana could see a staggering 400% surge if Donald Trump wins the upcoming election, while events like Musk's million-dollar campaign participation and the launch of ApeChain are creating ripples in the market

Bitcoin Could Hit $100,000 Sooner than Expected, Solana Could Surge 400% on Trump Win: Crypto Market Weekly Watch

Driven by institutional inflows, economic instability, and political uncertainty, Bitcoin could break through the $100,000 mark sooner than anticipated. Meanwhile, Solana could see a staggering 400% surge if Donald Trump wins the upcoming election, while events like Musk's million-dollar campaign participation and the launch of ApeChain are creating ripples in the market.

Institutional Inflows Propelling Bitcoin Prices

Matt Hougan, Chief Investment Officer of Bitwise, suggests Bitcoin could reach six figures sooner than expected, fueled by massive institutional inflows into Bitcoin exchange-traded funds (ETFs), the US economy's instability, and the upcoming US presidential election. Hougan highlights the growing Republican support for cryptocurrencies and the increasing inflation concerns driving investors toward Bitcoin. With regulatory clarity and supply limitations stemming from the Bitcoin halving, he predicts a rapid surge in Bitcoin's price.

Solana's Potential Surge: Trump Win Could Be a Catalyst

According to Watcher.Guru, Standard Chartered Bank suggests that Solana's price could climb by 400% if Trump wins the presidential election. This indicates that the market anticipates more favorable crypto regulations under a potential Trump presidency, boosting the price of cryptocurrencies like Solana.

Bitcoin Futures Open Interest Surpasses $40 Billion

Data from Coinglass reveals that the total Bitcoin futures open interest has crossed $40 billion, reaching 584,150 BTC. CME Bitcoin futures lead the pack with an open interest of 180,750 BTC, equivalent to $12.39 billion. Binance Bitcoin futures follow closely with 121,780 BTC and $8.36 billion.

Musk's Million-Dollar Campaign Involvement Draws Attention

Elon Musk announced on X that he has awarded $1 million each to two Pennsylvania voters who signed petitions supporting the First and Second Amendments. This comes after Musk promised to randomly give away $1 million daily to a registered Pennsylvanian voter who signs the "AmericaPAC" petition between October 19th and November 5th. Federal filings reveal that Musk donated $75 million to AmericaPAC, a group supporting Trump's presidential campaign, during the third quarter. Musk's actions have sparked significant attention, interpreted as an intervention in US politics and reflecting his stance on free speech and gun rights.

ApeChain Launches, Core User Incentive Program Coming Soon

ApeChain and its official cross-chain bridge are now live, enabling users to transfer ETH, APE, and other tokens to ApeChain. ApeChain's core user incentive program is set to launch the following day. The launch of ApeChain will provide a new impetus for its ecosystem and attract more user participation.

dYdX Unveils Secrets of Moats, Trojan Horses, and Flywheels

Charles d'Haussy, CEO of the dYdX Foundation, announced on social media that speakers at the dYdX Day event will unveil secrets about moats, Trojan horses, and flywheels. These secrets, crucial for dYdX as a decentralized exchange, will hold significant value for users, investors, and developers.

Stripe Acquires Stablecoin Platform Bridge

According to TechCrunch founder Michael Arrington, payment company Stripe has acquired the stablecoin platform Bridge for $1.1 billion. This is Stripe's largest acquisition to date and one of the largest in the history of the crypto industry. Bridge provides software that facilitates businesses accepting stablecoin payments, marking an expansion of Stripe's cryptocurrency adoption efforts.

Total DeFi Protocol Lock Value Reaches $89.56 Billion

Data from DefiLlama shows the total value locked (TVL) across DeFi protocols has reached $89.56 billion. The top five protocols by TVL are Lido, AAVE, EigenLayer, ether.fi, and MakerDAO. The continued growth in TVL across DeFi protocols reflects the market's development and user interest in DeFi applications.

Bitcoin Market Cap Dominance at 54.8%, Network Hashrate at 693.46EH/s

CoinGecko data indicates the current cryptocurrency market capitalization stands at $2.47 trillion, with Bitcoin holding a 54.8% dominance and Ethereum at 13.1%. BTC.com data reveals that the current Bitcoin network hashrate is 693.46EH/s, with a 24-hour transaction rate of 8.2 transactions per second. The current network difficulty is 92.05T, with a predicted 2.53% increase to 94.38T in two days.

Last Week's Crypto News Recap

• Bitcoin price surpasses $68,000, setting record holdings for US spot Bitcoin ETFs and pushing total net asset value to $66.1 billion.

• Asian private wealth shows significant interest in cryptocurrencies, with 94% already investing or considering investment.

• SEC files appeal in Ripple XRP lawsuit, challenging the unanswered securities issue.

• Ethereum protocol's future development focuses on decentralization and interoperability.

• RadiantCapital suffers a hack, losing over $50 million.

• USDT user base reaches a new high, Tether explores commodity trading opportunities.

• Hong Kong policy address mentions virtual assets and digital currency development.

New Highs Within Reach: Bitcoin's Battle Against Gold

Despite Bitcoin's recent surge, it hasn't yet reached an all-time high, whereas gold and the S&P 500 index have set new records. The ongoing depreciation of the Japanese yen is viewed as a positive sign for risk assets, potentially driving Bitcoin higher in the future. Although Bitcoin's price was previously hampered by rapid price surges and market sell-off pressure, recent accumulation signs and macroeconomic factors, including interest rate cuts by Western central banks and political factors, could help it achieve new highs.

Are Top 5 Exchanges' New Coin Performances a Total Bust? Analyzing the Opportunities and Risks of Altcoins amid Liquidity Droughts

This article analyzes the return performance of new coins listed

on the top five exchanges (Binance, OKX, Upbit, Bybit, Coinbase) over a

month, revealing that most new coins underperform. Investors often bear

the brunt of early investors' exits. In contrast, mainstream

cryptocurrencies like Bitcoin and Ethereum demonstrate stable

performance and attract more capital. Investors should be wary of low

liquidity projects and focus on project fundamentals and tokenomics to

navigate the high-risk crypto market.