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This week, we focus on significant developments in cryptocurrencies, marking a critical period for market participants. As anticipation builds around the approval of spot Bitcoin 
$104,097 ETFs, this week could be the most pivotal since such approvals began. With only hours left until the U.S. presidential decision, many are wondering what awaits investors.
Major Developments of the Week
Cryptocurrency enthusiasts consider this week among the most crucial of the year. If Trump wins, his promises for cryptocurrencies could lead Bitcoin to reach six-figure levels within months. However, if Harris emerges victorious, it may dampen spirits in the short term. Numerous key developments are scheduled for this week.
November 4, Monday
- 10:00 Turkey Inflation (Expectation: 48.3%, Previous: 49.38%)
- 10:00 Turkey Monthly Inflation (Expectation: 2.66%, Previous: 2.97%)
- 18:00 U.S. Factory Orders (Expectation: -0.5%, Previous: -0.2%)
- Digital Assets Week Singapore Event
November 5, Tuesday
- 16:00 U.S. Elections
November 6, Wednesday
- Singapore Fintech Festival
- IDRT, KP3R, OOKI, UNFI to be Delisted (Binance)
November 7, Thursday
- 16:30 U.S. Jobless Claims (Expectation: 220.5K, Previous: 216K)
- 22:00 Fed Interest Rate Decision (Expectation: 25bp Cut)
- 22:30 Fed Press Conference
November 8, Friday
- 19:00 Fed/Bowman Speaking
Elections and Interest Rate Decision
Elon Musk has been vocally supporting Trump in recent weeks. Should Trump win, Musk’s influence could be significant. With just hours remaining, Trump’s campaign has gained traction following a violent incident months ago. He has publicly outlined his projects and ardently supported cryptocurrencies.
Despite a lackluster debate performance against Harris, Trump currently holds around 47% in recent polls, just shy of Harris’s 48%. If Biden had not ceded his position to Kamala Harris, Trump’s chances might have been better. However, polls indicate that Trump is gaining ground over time.
Moreover, just two days after the elections, the Fed will announce its interest rate decision. Upcoming announcements may provide insights into the pace of potential rate cuts, which could enhance investor appetite for quicker easing scenarios. The coming days represent some of the year’s most significant moments.
