Industry insiders: The crypto market is waiting for the direction of US policy, and a lot of volatility is expected for a period of time

Odaily News After Election Day, investors net inflows into U.S. spot Bitcoin exchange-traded funds reached $4.7 billion. According to data compiled by foreign media, the 12 funds are from issuers such as BlackRock and Fidelity Investments, and their total assets have now reached about $94 billion. James Davies, CEO of Crypto Valley Exchange, an on-chain options and futures trading platform, said: "All trading is now purely speculative, and a lot of volatility and lack of clear signals are expected in the coming period as we wait for policy announcements from the United States." Davies pointed out that $90,000 is a key indicator that needs to be closely watched to see whether it can act as a "resistance level" or whether Bitcoin can stand strongly here. Data from the Deribit exchange showed that one of the highest concentrations of bullish Bitcoin option bets was at a strike price of $100,000. Outside of Bitcoin, smaller tokens such as Ethereum, the second largest token, and Dogecoin, which is popular among retail investors, rose and fell on Friday, consistent with traders reducing their bets on the Federal Reserve's rate cuts after Powell's comments, and market risk appetite has declined. (Bloomberg)