On November 6th, cryptocurrencies concept stocks surged across the board, as of the time of publication, $GRANDSHORES (01647.HK)$ rose by 38.82%, to 0.118 Hong Kong dollars; $OSL GROUP (00863.HK)$ rose by 16.76%, to 8.22 Hong Kong dollars; $SINOHOPE TECH (01611.HK)$ rose by 15.03%, to 2.22 Hong Kong dollars;$OKG TECH (01499.HK)$ Rising by 11.66%, trading at 0.182 Hong Kong dollars.
On the news front, the highly anticipated U.S. presidential election officially began voting today. Due to Trump's support for digital assets, the rise in Bitcoin is considered the so-called 'Trump trade.' Musk, on the other hand, stated that if Trump wins the election, a government efficiency department will be established, abbreviated as D.O.G.E. It is reported that Bitcoin surpassed $73,000 per coin, the first time since October 29, with an intraday increase of 5.23%.
Of note, on Monday, 12 Bitcoin ETFs managed by companies like Blackrock and Fidelity saw an astonishing net outflow of $0.5795 billion, reaching a historical high. The pricing of Bitcoin options on the CME also indicates that the 30-day implied volatility of Bitcoin has reached its highest level since August. Options pricing also suggests that the expected volatility of Bitcoin the day after the vote will reach around 8%, four times the normal level.
