Many cryptos are up over 5 percent today and Bitcoin (BTC) 
$73,968 It increased its all-time record level. Now the BTC ATH level on the Binance exchange is $75,407. At the time of writing, BTC is at $74,500, above the previous all-time record level.
Spot Bitcoin ETF
With the opening of the US markets today, spot Bitcoin (BTC) Significant volume is expected to occur in ETFs. Last week, we mentioned that net inflows approaching $900 million per day were impressive. A net inflow of around $1 billion today would not be surprising because everyone is waiting ready to trade the election results.
BTC has not experienced a massive rally yet and is only up 8% in the last 24 hours. Investors in the ETF channel can see this as an opportunity and make huge inflows.
Election Results and Cryptocurrencies
Although Trump was previously hostile to cryptocurrencies, this has completely changed this year. trumphas even launched its own DeFi project, vowing to end the “unlawful and anti-American pressure” on the US crypto industry. He also said he would fire the current SEC Chairman and release Ross Ulbricht.
Harris avoided clear statements about cryptocurrencies. Even without cryptocurrency investors, he seemed confident he would win the elections, and he lost. After the South Korean elections, we saw for the first time that cryptocurrencies turned into such an important propaganda tool in a large country like the USA.
In the coming period Fed‘of BitcoinWe will see many big events, from adding ‘s to its reserve to SEC Chairman Gensler bidding farewell to the institution. There is a possibility that he may not care about Trump’s promises after he is elected, but this will put him in a difficult situation.
We are likely to see a series of US-based news that will affect cryptocurrencies in the coming days and weeks. Before the handover, institutions may step up their anti-crypto actions. Trump’s statements on crypto will be much more effective on the charts now that he has been elected as the new president.
Due to Elon Musk’s DOGE recommendation, DOGE is moving towards $0.23 as expected. We will probably see the continuation of the rise here. Future messages regarding the clarification of the “legal status” for XRP Coin and other altcoins may also lead to greater fluctuations.
In summary, we can say that the exciting days for cryptocurrencies have come.
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.
