Bitcoin and crypto investors brace for volatility as the U.S. election unfolds.
Traders are eyeing a “Trump trade” trend, with increased long positions in the dollar, crypto, and Treasury yields.
Historical data suggests that post-election uncertainty may linger, with past elections showing prolonged volatility.
The crypto market, along with stocks and treasuries, is bracing for volatility on what promises to be one of the most tightly contested U.S. presidential elections in recent history. Dubbed the “Trump trade,” a trend of increased long positions in the dollar, cryptocurrency, and Treasury yields has gained momentum in anticipation of a Trump victory, with his lead reflected in prediction markets.
However, the tides could shift dramatically if Kamala Harris clinches a win, potentially unleashing substantial market swings overnight.
Bitcoin Projected Movement
In the lead-up to Election Day, traders are eyeing a projected 10% price movement in Bitcoin (BTC), with the most volatility expected as polls close. Yet, according to QCP Capital’s election commentary, the market may be underestimating post-election uncertainty.
The lack of a volatilit…
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