Bitcoin price hit a new all-time high in early Asian trading today. This has led to the altcoin market experiencing similar price trends. The crypto space is hinting at a possible bull run ahead as fear and greed indicators turn extremely bullish. With volatility in the crypto market increasing, is now a good time to invest in top cryptocurrencies? In this article, we cover market sentiment and possible price analysis for Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) crypto tokens.
Bitcoin (BTC)
BTC price has increased by 1.03% in the past day, with a trading volume of $67.041 billion. In addition, it has increased by 4.01% in the past week and 18.92% in the past 30 days.

Pending order price analysis

Maker price has risen by about 10% in the past day, resulting in the altcoin successfully recording a bullish reversal. Moreover, the MKR token is signaling a bullish momentum this month as technical sentiment and on-chain data favor the project.
Will the master protocol behind the DAI stablecoin continue to gain momentum and retest its $2,000 cap price target this month? In this article, we cover an in-depth price explanation and possible targets for the Maker (MKR) crypto token.
MKR Token Price Records Bullish Action Increased!
As the cryptocurrency market recovers strongly, the Maker token has gained 9.87% in the past 24 hours, with a trading volume of $184.94 million. Since then, the MKR token has reclaimed $14,000 for the first time in about a month.

Bitcoin (BTC) is currently in a price discovery phase, helped by the historic victories of Donald Trump and other pro-cryptocurrency candidates in the U.S. Senate and House of Representatives. Meanwhile, the altcoin market, led by Dogecoin (DOGE), Ethereum (ETH), and Solana (SOL), has also gained impressive bullish momentum.
As of early New York trading on Thursday, November 7, Solana’s price has surged more than 30% in the past 30 days to around $187.

Rejoice—Solana has exploded!
Solana has emerged from a macro consolidation phase after a strong rebound. The token has a fully diluted valuation of around $110 billion and a daily trading volume of over $6 billion, showing significant growth. However, to maintain this momentum, SOL must consistently close above the weekly downlog trend to avoid a potential false breakout.

The price of Shiba Coin is in the news again, and this time SHIB holders are not too happy with the current state of the meme coin. Lately, the price of Shiba Coin has been on an upward trend, surprising traders and investors who invested in SHIB tokens.
However, SHIB whales and holders have been moving large amounts of tokens to new destinations, causing panic in the SHIB community. One of these destinations is the WallitIQ (WLTQ) presale, with numerous whales rushing in to buy WLTQ tokens, which are expected to surge 60,000% in the next 3 months, outperforming the Shiba Inu price.

U.S. Republican presidential candidate Donald Trump announced his victory on the 6th. Due to his support for cryptocurrency, Bitcoin reached an all-time high, and the total cryptocurrency market value surged by over $200 billion in a single day. The total trading volume of all Bitcoin spot ETFs reached $6 billion on Wednesday, setting a new high since March.
Trump has made multiple statements supporting Bitcoin during this election, including announcing that he would make Bitcoin a strategic reserve asset, not selling the Bitcoin owned by the U.S. government, considering using Bitcoin to pay off $35 trillion in national debt, and firing the long-time anti-cryptocurrency SEC Chairman Gary Gensler, while having Tesla CEO Elon Musk, who supports cryptocurrency, lead the government efficiency committee.

In the past week, SHIB whale holdings surged by over 7,000%, which could lead to Shiba Inu's price skyrocketing 4 times like Dogecoin. Large investors are confident in the crypto asset, and their massive holdings indicate high expectations for future price increases. Although SHIB's price has dropped by 0.6% in the past 24 hours, it still hovers around $0.00001880, similar to the price pullback of Dogecoin.
Although SHIB has performed flat during the campaign, the significant whale holdings suggest that this situation may change. Overall, the market is optimistic about SHIB's short-term trend, as large investors' holdings exhibit confidence in a future price increase. For cryptocurrency investors, this may be a signal worth noting. However, investing should be approached with caution, as the market is highly volatile, and risks increase accordingly. It is hoped that everyone can conduct thorough research and risk assessment before investing.

The US dollar index remained strong at 105.12, gold fell sharply and was struggling at $2,663, and Bitcoin soared to $76,400, setting a new record high. The price of the currency then fell back to $75,700 and fluctuated. Donald Trump defeated Harris and won the US presidential election for the second time. The Republican Party is preparing to establish a national reserve of Bitcoin. Billionaire Musk posted a photo with Trump's family and exposed the key reason for Trump's victory. The Republican Party controls the Senate, and the fate of the House of Representatives is still uncertain.

Trump wins presidential election: Republicans control Senate, House hangs in the balance

As investors digest the results of the U.S. presidential election, U.S. stock index futures have surged, showing that Donald Trump leads Kamala Harris.
The former president won North Carolina and Georgia, two key swing states that the Associated Press will declare as winners. Results from Pennsylvania, Arizona, Wisconsin, Nevada, and Michigan remain undecided.
Around 2 AM Eastern Time, the tech-heavy Nasdaq 100 index (NQ=F) and S&P 500 index futures (ES=F) contracts both surged about 1.6%. The Dow Jones Industrial Average futures (YM=F) rose over 1.7% on the back of the stock market's gains.

In the 2024 U.S. presidential election counting, Republican candidate Trump leads with 248 votes against Harris's 216 votes, needing 22 more votes to declare victory. On Wednesday (November 6), Bitcoin continued to hover above $54,500, the dollar index surged to 105.02, maintaining strength, while gold was the exception among the broadly declining commodities, with gold prices remaining resilient at $2,738.

U.S. Election Result Update: Trump leads Harris with 248 votes to 216.

Bloomberg reports that the Republican Party has gained control of the U.S. Senate, with Trump leading in the presidential race.
Harris has won California, Colorado, Connecticut, Delaware, Washington D.C., Hawaii, Illinois, Maine's 1st District, Maryland, Massachusetts, Nebraska's 2nd District, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, Virginia, and Washington.

The U.S. presidential election officially started on the 5th local time, and polling places across the country have gradually closed. The election results are expected to be announced as early as late night on election day or the following morning (Taiwan time late tonight or early tomorrow).
According to current AP live vote count data, Trump has 230 electoral votes, temporarily leading Harris's 205.

AP live vote count data
Trump currently has 230 electoral votes: winning 11 votes from Indiana, 8 from Kentucky, 4 from West Virginia, 7 from Oklahoma, 11 from Tennessee, 9 from Alabama, 6 from Mississippi, 30 from Florida, 9 from South Carolina, and 6 from Arkansas. He also secured 3 votes from North Dakota, 3 from South Dakota, 3 from Wyoming, 8 from Louisiana, 3 from Nebraska, 17 from Ohio, 40 from Texas, 10 from Missouri, 6 from Utah, 4 from Montana, 6 from Kansas, 6 from Iowa, 4 from Idaho, and 16 from North Carolina.

After the U.S. stock market opened last night, Bitcoin experienced a strong surge, breaking past $70,000, although selling pressure emerged soon after, and at around 3 AM this morning, there was a significant drop. However, it quickly bounced back, and around 8 AM today (6th), it saw another strong surge, reaching a high of $71,458.
As for the reason behind this surge, it is speculated that investors believe the current results being counted are favorable for Trump's election. However, due to time zone differences and varying state regulations, the voting end times differ across states, with the latest ending at 2 PM Taiwan time on November 6, and the results may still change significantly.

Whales and Institutions on AAVE
On November 5, 2024, whale transaction tracker Lookonchain posted on X (formerly Twitter) that wallet addresses "0x7634" and "0x790c" along with Cumberland and Galaxy Digital collectively dumped 51,509 AAVE tokens worth $6.74 million to various exchanges.

The massive sell-off, which occurred in the past 24 hours on MEXC, Binance, and OKX, raised concerns about possible insider information or just normal selling on exchanges.
Current Price Momentum
Despite all this activity from whales and institutions, the AAVE price has remained positive over the past 24 hours. Currently, it is trading near $131.75, with a price increase of over 1.71%.

Due to increased uncertainty over the outcome of the 2024 U.S. elections, the cryptocurrency market experienced a significant correction this week. Subsequently, the Stacks price saw a substantial pullback, highlighting enhanced bearish sentiment.
As the decentralized finance market struggles to regain momentum, is now a good time to add Stacks cryptocurrency tokens to your portfolio? Read our in-depth study to explore potential short-term price targets for Stacks (STX) tokens.
Does the STX coin price suggest a bullish reversal?
Amid rising price uncertainty, the Stacks cryptocurrency price has seen a strong bearish pullback in recent days. Notably, it has dropped 19.36% over the past week and 15.76% over the past 30 days. With a market cap of $2.273 billion, Stacks is currently ranked 34th.

As the U.S. presidential election approaches, speculation is growing about who will be the next SEC chairman. The current SEC chairman, Gary Gensler, who was appointed by Joe Biden in 2021, has been criticized for his strict regulatory stance, especially with respect to the cryptocurrency market. Under Gensler's leadership, several enforcement actions have been taken against major entities.
Therefore, the appointment of a new SEC chairman is expected to greatly impact the regulatory landscape, especially with regard to cryptocurrencies and digital assets. A change in leadership could lead to a shift in policy that could potentially create a more accommodative environment for digital assets.

For the second day in a row, meme cryptocurrencies are the best performers among the 100 largest cryptocurrencies. Dogecoin (DOGE) and Shiba Inucoin (SHIB) are two of the largest meme coins that have managed to reach huge market cap milestones despite the crypto benchmark being in the red. Dogecoin (DOGE) outperformed all cryptocurrencies, with SHIB and POPCAT following closely behind The oldest meme cryptocurrency Dogecoin (DOGE) is the fastest growing cryptocurrency among the top 100 today (November 5, 2024). It is up 7.8% in the past 24 hours. Its market cap is over $25.02 billion, according to statistics from the CoinGecko tracker.

As the November 5 U.S. election voting day approaches, XRP prices are approaching key levels, and investors and analysts are keenly watching the potential impact of this major political event on the cryptocurrency market, especially XRP (XRP).
XRP Price Before US Election Day
The price of XRP has increased by 0.1% over the past 24 hours and is currently trading at $0.5072. Technical analysis shows that the asset is in a state of consolidation within a descending triangle. Despite being bearish, these types of setups can lead to bullish breakouts 32% of the time, which are usually explosive.

The trading volume of XRP, the seventh largest cryptocurrency by market capitalization, has increased, soaring by 54%, as the cryptocurrency market seeks recovery after a $225 million sell-off.

Due to intensified market sell-offs over the weekend, cryptocurrency futures liquidated nearly $225 billion in the past 24 hours. The decline in Bitcoin to a low of $67,444 resulted in losses for major tokens, with cryptocurrency futures liquidating nearly $133 million in long positions in the past 24 hours. According to CoinMarketCap, XRP's trading volume reached $1.04 billion in the past 24 hours, equivalent to 2.03 billion XRP, accounting for 55%. The surge in trading volume may be attributed to an increase in market participation following a period of intense selling pressure.

For miners, the price of each Bitcoin (BTC) is $96,100: What happened? CoinShares analyst James Butterfill noted in a recent report that the average cost of producing BTC for listed miners has climbed to $96,100; this figure includes non-cash expenses such as depreciation and stock-based compensation. Cash costs have also increased, rising from $47,200 in Q1 2024 to $49,500/BTC in Q2 2024, as mining conditions become increasingly complex and require more capital investment.

The market indicators regarding meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE) show interesting changes. Data from the crypto analytics platform IntoTheBlock indicates a significant difference in whale activity for SHIB and DOGE.

Shiba whales guide the direction for DOGE. According to data, SHIB whale transactions surged over 261% in 24 hours. For Dogecoin, this was only a 4.58% increase. As a reference, in this context, whale transactions involve any active transfer worth at least $100,000.

Although DOGE's trading volume of $1.29 billion dwarfs Shiba Inu's actual value of $39.6 million, the significant increase in growth rate indicates that, overall, more investors are showing interest in SHIB. This whale-like growth could trigger an important recovery in the future, especially as other growth indicators are currently declining. As previously reported by U.Today, Shiba Inu did not see any SHIB sent to burn wallets within 24 hours. This highlights that the broader Shiba Inu ecosystem is cooling down after a significant rise last week.

With only a few hours left until the 2024 U.S. election, Donald Trump's World Liberty Financial has significantly lowered its fundraising target due to a sharp decline in sales of its native token 'WLFI.'
Reportedly, the company currently plans to raise only $30 million from investors, which is just 10% of its original target of $300 million. Furthermore, a SEC document traced back to October 30, 2024, states that World Liberty Financial ($WILFI) plans to 'terminate' the sale of its native tokens once its valuation reaches $30 million.