Crypto:
32384
Bitcoin:
$97.968
% 0.92
BTC Dominance:
%58.1
% 1.36
Market Cap:
$3.33 T
% 0.79
Fear & Greed:
93 / 100
Bitcoin:
$ 97.968
BTC Dominance:
% 58.1
Market Cap:
$3.33 T

US Election Uncertainty Could Cause Volatility in Bitcoin

Bitcoin

David Lawant, head of research at crypto analytics firm FalconX, warned that the crypto market could experience unexpected volatility if the results are too close in the upcoming US presidential election. Lawant noted that the long period of uncertainty about the election results could cause additional volatility in the market.

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.

READ:  McHenry Talks About Bitcoin ETF!

Might interest you: What is BabyDoge?

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.


You can join our Telegram channel to not miss the news and stay informed about the crypto world.

Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *