On Election Day, Bitcoin's price surged above $70,000, reaching approximately $70,170 by 2 pm ET, representing a 3.5% increase from the previous day. Analysts from Bitfinex remarked that Bitcoin often responds positively to periods of political change, particularly when there are uncertainties regarding fiscal and monetary policies. They noted that the demand for safe-haven assets, like Bitcoin, could increase amidst rising US debt and deficits. Consequently, implied volatility in the options market remained elevated, with predictions suggesting an 8% price movement following the election results. CoinFund's Seth Ginns indicated that a decisive break above the $75,000 mark could lead to significant upward momentum while Ledn's CIO John Glover mentioned potential volatility around the $74,000 level. Perkins, the president of CoinFund, emphasized the influence of crypto voters on election outcomes, predicting a more favorable regulatory environment for cryptocurrencies in Congress. This environment could support greater adoption of digital assets.

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