Bitcoin whales are accumulating the cryptocurrency, having acquired over 1,806 Bitcoin worth approximately $132 million in anticipation of a potential Trump victory in the 2024 presidential election. These withdrawals were noted by the crypto intelligence platform Lookonchain and involved 11 newly created wallets, primarily on Binance. Investor sentiment is shifting towards risk-on assets like Bitcoin, especially following Trump's projected win based on key swing states results. Bitcoin's price has also surged to a new all-time high, fueled by traders reacting to Trump's lead. Analysts expect increased price volatility as the election results influence the market, with some predicting Bitcoin may reach $80,000 by the end of 2024 due to options market dynamics and the Republican victory scenario. The Crypto Fear & Greed Index indicates a significant rise in market optimism, moving from 'fear' to 'greed' in recent weeks as political odds shifted in Trump's favor.

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