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Reading: 75 Thousand Dollar Explosion in Bitcoin Before the US Presidential Elections!
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EdaFace Newsfeed > Latest News > Crypto News > 75 Thousand Dollar Explosion in Bitcoin Before the US Presidential Elections!
Crypto News

75 Thousand Dollar Explosion in Bitcoin Before the US Presidential Elections!

vitalclick
Last updated: November 4, 2024 3:45 pm
5 months ago
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upcoming in the USA presidential elections It has increased tension in both political and financial markets. Republican candidate in bets on prediction platforms Donald TrumpAlthough the expectation that he will become president again is at 55 percent, this rate, which was 66 percent last week, dropped noticeably. Especially polymarket It is observed that the rates on platforms such as are close to the survey results.

Mobility is Increasing in the Options MarketThe Results of the Elections Are Expected to Affect the Market

Mobility is Increasing in the Options Market

Price movements remained horizontal throughout the weekend and futures marketsThe decrease in the total size of positions in Turkey from 30 billion dollars to 26 billion dollars led to comments that market players were waiting for the election results.

cryptocurrency marketThe increasing uneasiness throughout this week also manifested itself in the options market. There is a strong increase in demand for positions that will expire by the end of November and target the level of 75 thousand dollars. Interest in these positions has increased since Friday.

While option positions targeting the day after the presidential election day on November 5 also increased, the estimated volatility rate exceeded 87 percent. On the other hand, the fact that the realized volatility rate remains at 40 percent shows that the market has not yet made a strong break.

The Results of the Elections Are Expected to Affect the Market

The general expectation in the markets is that the results of the 2024 US presidential elections will direct the markets. While a sudden rise in the prices of cryptocurrencies is expected if Trump wins, the Democratic candidate Kamala HarrisIt is thought that if . wins, the market may react negatively to this situation. However, for now, it is estimated that the market will move within a certain range until the election results become clear.

The results of the elections and the reaction of the markets to the results are eagerly awaited by cryptocurrency investors. The largest cryptocurrency with only a few hours left until November 5th Bitcoin (BTC) $68,545 It is traded at $68,857 with an increase of 0.59 percent in the last 24 hours. altcoin king Ethereum (ETH) $2,451 It is priced at 2 thousand 471 dollars with an increase of 0.56 percent.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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