Bitcoin Dips Below $70,000 Amid U.S. Stock Market Decline: What Investors Need to Know

On November 1, 4E monitoring reported a significant downturn in U.S. stock markets, with the Nasdaq suffering its largest decline in nearly two months, closing down 2.76%. Despite robust earnings from the leading technology sector, including the so-called “Seven Sisters,” disappointing performance guidance triggered a market-wide selloff. This led to the Nasdaq, the Dow, and the S&P 500 registering cumulative declines for October, ending five consecutive months of gains. Meanwhile, the crypto market mirrored this trend, with Bitcoin retreating below the $70,000 threshold, down 3.18% at $69,851 and Ethereum dropping 5.1% to $2,516.

In foreign exchange markets, the U.S. dollar index fell slightly while the euro strengthened amid rising inflation concerns in the Eurozone, which may influence the European Central Bank’s monetary policies. The increase in international crude oil prices due to geopolitical tensions has also been notable, with WTI crude rising over 2%. Furthermore, gold prices have seen a surge, reflecting heightened safe-haven demand as the U.S. presidential election approaches. Investors are advised to tune into the upcoming U.S. non-farm payrolls report, which could impact both the market and the political landscape.

e.com, a financial trading platform, has introduced a new USDT stablecoin product with an attractive annualized yield of 5.5%, aiming to provide investors with an effective hedge amidst volatile market conditions. It’s crucial for market participants to recognize and manage volatility risks diligently while optimizing their asset allocations in these uncertain times.