Bitcoin Market Await a Strong Base After Uncertainty

Lavant, who stated that the crypto market has been in a directionless trading process since April, said that the end of the post-election uncertainty could create a more solid base for the markets. “After six months of directionless trading, the markets seem willing to leave the election uncertainty behind and head to a more solid base,” he said.

Bitcoin traded between $53,991 and $73,149 during the election process. Lawant stated that investors think both candidates can provide positive effects for crypto, but he believes that a Trump win could increase crypto industry support more clearly. Swyftx’s Pav Hundal also said that Trump’s victory could create a “dopamine effect” in the market.

Post-Election Bitcoin Predictions

In the post-election period, options traders predict that Bitcoin could break all-time highs. Data from the Deribit exchange show that open interest in call contracts expiring at the end of November is focused on the $80,000 level.

Bitcoin and Solana Stand Out

Lawant said that Bitcoin and Solana stand out as “potentially outperforming” assets. He noted that Bitcoin could particularly benefit from ETF flows, while Solana’s strong narrative also makes it an interesting target for diversification. On the other hand, he noted that Ethereum was notably absent from such talks.

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10T Holdings founder Dan Tapiero recently argued that the US elections would not affect the crypto market’s upward direction, predicting that Bitcoin could reach $100,000 regardless of the election result. “The election will pass and everything will continue to rise,” Tapiero said, downplaying the impact of the election on the crypto market.

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Trump and Harris’ Approach: Market Expectations and Bitcoin

Many expect Bitcoin to surge if Trump is elected president. His discussion of adding BTC to the US reserves and his crypto-friendly approach have created a positive atmosphere in the market. Trump aims to make the US a hub for digital finance by reducing regulatory barriers to crypto innovation. Harris, on the other hand, is expected to take a more cautious approach if elected. While Harris has not made any direct promises to crypto, he does care about user protection and preventing financial crime. Harris’ supporters are in favor of regulations that promote transparency in the crypto market.

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Regardless of the outcome, more comprehensive and positive crypto regulations are expected by 2025. Creating transparent and crypto-friendly regulatory frameworks will be a critical factor for Bitcoin’s future.

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Strijers stated that the market expects a fluctuation of approximately 3.78% in Bitcoin prices during the election week. Rising option demand and increased implied volatility indicators indicate that derivatives investors are expecting a rise in the short term for the post-election period. In parallel, Arbelos Markets CEO Joshua Lim also stated that they observed an increase in call option demand at $70,000 – $80,000 levels for post-election maturities.

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Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, also predicts that Bitcoin could approach $73,000 on election day. Kendrick stated that he made this prediction based on Bitcoin’s high volume and popular option target levels.

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