Bitcoin experienced significant volatility as the US Presidential Election votes began, with a notable price jump of 3.7% to nearly $70,300 on Bitstamp, followed by a correction back to $69,500. Analysts have noted similarities to previous election periods, with some suggesting that Bitcoin may have established a local bottom just before the election—mirroring moves from previous years. Historical data from CryptoQuant shows that Bitcoin typically rises after US presidential elections, with price increases of 37% in 2016, 98% in 2020, and 22% in 2012. Currently, the market appears to be pricing in moderate volatility around the election but may not fully account for potential post-election risks. Charles Edwards, founder of Capriole Investments, believes that inflows into US spot Bitcoin ETFs signify a continuation of Bitcoin's upward trajectory, independent of election outcomes.

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