Preface:
Bitcoin and Ethereum dropped by 0.82% and 1.75% in the past 24 hours, currently priced at $68,074 and $2,408, with the ETH/BTC exchange rate steady at 0.037. The crypto market Fear & Greed Index is at 70, indicating greed.

Market Trending

After a weekend of significant declines, the market slowdown eased yesterday, moving into a sideways phase. Bitcoin rebounded above $68,000 after falling below $67,000, narrowing its 24-hour loss to 0.82%. With the U.S. election on November 5, the crypto market generally favors candidate Trump; the weekend’s sharp decline is closely related to shifts in his win rate. The upcoming Federal Reserve meeting on November 8 will also impact the market. According to CME’s “FedWatch,” there is a 98% chance of a 25-basis-point rate cut in November, with a 2% chance of keeping the rate unchanged. By December, there is a 0.3% chance of maintaining the current rate, a 17.9% chance of a cumulative 25-basis-point cut, and an 81.7% chance of a cumulative 50-basis-point cut.
Public Chain Sector:
In this cycle, leading public chains SUI and SOL have shown resilience, with less decline than altcoins, thanks to active on-chain meme ecosystems.
Meme Sector:
As Trump’s polling support rebounded yesterday, Trump-themed coins surged, with MAGA rising nearly 30% and meme leader DOGE gaining close to 10%. PNUT, which saw significant gains over the weekend, dropped over 60% yesterday. Other previously popular tokens like GOAT and LUCE showed some recovery, and new memes related to the U.S. election have emerged on-chain.
DeFi Sector:
After listing, GRASS rose against the trend, reaching a high of $1.9 and is now undergoing a correction.

Spot Bitcoin ETF Flows

Yesterday, U.S. Bitcoin spot ETFs saw a net outflow of $540.91 million, marking the second-largest net outflow since the ETF launch. IBIT had a net inflow of $38.58 million; FBTC saw a net outflow of $169.6 million; ARKB had a net outflow of $138.3 million, and GBTC saw a net outflow of $63.7 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is DOGE, with a 24-hour gain of 9.7%.
DOGE, short for Dogecoin, was created by software engineers Billy Markus and Jackson Palmer on December 6, 2013. Originally meant as a joke inspired by the Doge meme (a Shiba Inu featured in humorous images), Dogecoin has grown into a community-driven cryptocurrency, popular in internet culture and charity events. In its first year, DOGE’s supply was capped at 100 billion, with an additional 5 billion minted annually with no limit. Historically, DOGE’s price has been influenced by figures like Musk, Trump, and U.S. election themes. With Trump’s polling rebound yesterday, DOGE’s price rose by 9.7%.
Check Out the Latest Prices, Charts, and Data of DOGE/USDT Spot and DOGEUSDT Perp!

The Word on the Street

Overview of U.S. Election Data
The Path to 270 Votes:
Current statistics show Harris has secured 226 electoral votes, while Trump is slightly behind with 219 votes. Harris needs 44 more votes to win, while Trump needs 51.
Latest Poll Data:
Vice President Harris is showing a “comeback” trend in recent polling, leading Trump by 49:48 on Yahoo News and 49:46 on ABC News (both left-leaning outlets), while remaining tied with Trump at 49:49 on NBC News and the New York Post. The race remains highly competitive.
Key Swing States:
In this election, eight swing states, including Arizona, Nevada, and Wisconsin, are pivotal and could determine the final outcome. Harris recently took the lead in Iowa, making it the first swing state win. She is also slightly ahead in Wisconsin and Michigan, while Trump leads in the remaining five states.
Prediction Market Data:
Prediction markets show varied results for the election. Currently, Polymarket gives Trump a 57.9% chance of winning (though it dropped sharply after Harris took Iowa over the weekend), while RealClear Polling’s average from various polls shows Trump with only a 0.3% lead over Harris.

Project Funding

“Solidity 2.0” developer Vlayer completes a $10 million pre-seed funding round.
On November 5, it was reported that Vlayer, a crypto startup developing “Solidity 2.0,” completed a $10 million pre-seed funding round, with participation from a16z Crypto Startup Accelerator (CSX), Credo Ventures, and BlockTower Capital.
Vlayer is focused on building “verifiable data infrastructure” and aims to enable developers to validate and integrate real-world data into Ethereum smart contracts. Specifically, Vlayer will introduce four new features to Ethereum’s Solidity language: Time Travel (executing smart contracts using historical on-chain data), Teleportation (running contracts across multiple EVM-compatible networks), Web Proof/zkTLS (verifying and integrating web content, including APIs and websites), and Email Proof/ZK Email (accessing and verifying email content).