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Dollar Rangebound Ahead of US Midterms; Bitcoin Reels From Crypto Heist
Traders are watching the vote and central bank decisions as Binance customers pull $3.64 billion after a record hack.
- On Monday, the dollar and major currencies held steady as investors shifted focus to Tuesday's midterm elections, which could determine control of Congress.
- Americans head to the polls on Tuesday to determine whether Democrats can wrest control of Congress from President Donald Trump's Republican Party.
- Binance customers withdrew $3.64 billion, or 2.1% of assets, following a $6.3 billion heist last week, though the exchange recovered 95% of stolen funds.
- Andreja Cobeljic, head of derivatives trading at AMINA Bank, said hedge funds suffered "significant losses" in October, leaving markets with "little capacity" to absorb election surprises.
- Standard Chartered's Eric Robertsen noted polling suggests strong anti-incumbent sentiment, yet election outcomes remain uncertain, as seen in Brazil and Israel.
Insights by Ground AI
12 Articles
12 Articles
Bitcoin has remained in the $70,000 range for four consecutive days after falling below $80,000 on the 30th of last month. Investor sentiment appears dampened by a combination of the aftershocks from the hacking of Binance, the world's largest cryptocurrency exchange, and uncertainty ahead of the U.S. midterm elections. According to the cryptocurrency market data site CoinMarketCap on the 2nd, Bitcoin was trading at $77,972.33 as of 8:20 AM, up …
Coverage Details
Total News Sources12
Leaning Left0Leaning Right4Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
C 64%
R 36%
Factuality
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