Cryptocurrency Market Volatility: Bitcoin and Ethereum Prices Decline, Market Sentiment Affected by the U.S. Election

This week, the cryptocurrency market experienced significant volatility, with major cryptocurrencies such as Bitcoin ($BTC) and Ethereum ($ETH) seeing price declines. Bitcoin briefly fell below $68,000, reaching a low of $67,574, before slightly recovering to $69,100. Ethereum also dipped below $2,500, hitting a low of $2,412, and is currently trading at around $2,470. Other cryptocurrencies like Solana ($SOL) and Dogecoin ($DOGE) also faced similar declines and minor recoveries. Market sentiment is influenced by the upcoming U.S. elections and the FOMC meeting, with investors anticipating that potential interest rate cuts could drive cryptocurrency market prices higher. Reddit sold its crypto assets, realizing a profit of $6.90 million, while several blockchain projects will unlock $2.60 billion worth of digital assets in November. Despite the market fluctuations, the overall sentiment in the crypto market remains optimistic.