Industry insiders: The crypto market is waiting for the direction of US policy, and high volatility may occur in the future

After Election Day, investors netted $4.7 billion into U.S. spot Bitcoin exchange-traded funds. The 12 funds, from issuers such as BlackRock and Fidelity Investments, now have total assets of about $94 billion, according to data compiled by foreign media. "All trading is now purely speculative, and a lot of volatility and lack of clear signals are expected for some time to come as we wait for policy announcements from the U.S.," said James Davies, CEO of Crypto Valley Exchange, an on-chain options and futures trading platform. Davies pointed out that $90,000 is a key indicator that needs to be closely watched to see if it can act as a "resistance level" or if Bitcoin can stand strong above it. 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, a favorite among retail investors, rose and fell on Friday, consistent with traders reducing bets on a Fed rate cut after Powell's comments, and market risk appetite declined. (Bloomberg)