Bitcoin rises 2%, Dogecoin soars 11%: Crypto markets soar on Monday, but traders warn to 'stick to the plan'

The cryptocurrency market is rising as follows. donald trumpThe probability of an election continues to rise.

Notable statistics:

• According to IntoTheBlock data, large transaction volume decreased by 11.1% and daily active addresses decreased by 11.6%. Transactions over $100,000 fell from 6,085 to 5,505 in one day. Exchange net flows fell by 57%.
• According to Coinglass data, 64,482 traders were liquidated in the past 24 hours, with a total liquidation amount of $153.8 million.
• Metaplanet revealed that it purchased an additional 156.78 BTC.
• VanEck, head of digital assets, predicts that Bitcoin will be worth $3 million and used as the world's reserve asset by 2050.

Notable developments:

Top gainers:

Trader notes: With the price of Bitcoin chasing the $70,000 mark, crypto analyst Miles Deutscher recommends three key strategies to navigate the expected volatility in the crypto market in the days leading up to the election. He pointed out that there is.

• Avoid leverage as it will be illiquid and highly volatile during this period as market makers reduce their activity to minimize risk.
• Stick to spot trades to avoid potential losses and look for buying opportunities on intraday or intraweek corrections.
• Don't trust initial price movements as they can be misleading. He said people should avoid FOMO and wait for a clearer trend, as “even if President Trump wins, it could cause a short-term decline before rebounding.”

Finally, he urged people to “stick to the plan” and expect “heightened noise and speculation.”

Another trader, Benjamin Cowen, sees the July high of $70,040 as a milestone.