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

On November 15, after Election Day, net inflows into US spot Bitcoin exchange-traded funds reached $4.7 billion. According to data compiled by foreign media, these 12 funds come from issuers such as BlackRock and Fidelity Investments, with their total assets now reaching about $94 billion. James Davies, CEO of on-chain options and futures trading platform Crypto Valley Exchange said: "All trades are purely speculative at the moment, expecting a lot of volatility and lack of clear signals in the future as we wait for policy announcements from the United States." 
Davies pointed out that $90,000 is a key indicator that needs close attention to whether it can play a role as a "resistance level", or whether Bitcoin can stand strong here. Data from Deribit exchange shows that one of the highest concentrations of bullish Bitcoin option bets is at an exercise price of $100,000.
Apart from Bitcoin, Ethereum which is the second largest token and smaller tokens like Dogecoin beloved by retail investors showed mixed results on Friday consistent with traders reducing their bets on Federal Reserve rate cuts after Powell's comments; market risk preference has declined slightly. (Bloomberg)