On November 5, as the U.S. presidential election approached, trading volumes in prediction markets neared $4 billion, highlighting heightened interest in the election's outcome. Polymarket indicated Donald Trump had a 62% chance of winning, while Vice President Kamala Harris held 38%. Analysts predict that the results could lead to increased volatility in Bitcoin prices, which were trading below $69,000 at the time. Despite a generally subdued Bitcoin market, some analysts see potential for a price rally depending on the election outcome, particularly if Trump wins, as he is considered more favorable to crypto. On the eve of the election, U.S. Bitcoin exchange-traded funds (ETFs) experienced their second-largest outflow, totaling $541.1 million, a stark contrast to the previous week’s significant inflows. The increased volatility expected from the election results may have strategic implications for crypto investors and the market as a whole.

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