Bitcoin Falls As Market Awaits US Election Results

Bitcoin may have crashed pre-election. It fell about 3.64% in a few days and is presently below $70,000. Many are calling this steep decrease to $68,000 the “biggest Bitcoin crash,” signifying the start of Bitcoin's worst slump.


Market analytics platform Santiment highlighted the Bitcoin drop and investors' diminishing non-empty wallets. The analytical platform shows 211,540 fewer addresses than three weeks previously. This enormous drop is an indication of extreme Fear, Uncertainty, and Doubt (FUD) usually linked with bullish performance and a pressured market.

As retail and institutional investors await US Presidential election results, the crypto market is in uncertainty. Even huge Bitcoin investors, known as "Whales," have taken a "Wait-And-See" approach as they carefully monitor how the US election affects the market.

Santiment says that Bitcoin whales have reduced transaction activity, indicating market sentiment has changed. Bitcoin whales are eagerly awaiting the US Presidential election results as their activity subsides following last week's rise at crypto's peak, according to market intelligence.

Many crypto traders and investors are bracing for market volatility and uncertainty as the US elections results begin to roll in today. X (previously Twitter) mentions of presidential candidate Donald Trump, who has crypto community backing, have increased.

US Presidential Elections Could Impact BTC Price
Many crypto specialists have different expectations for the crypto market following the US presidential elections. Investors and crypto specialists are monitoring the market for developments as Kamala Harris and Trump run for president.


Bitcoin rose 2,714% after former President Trump won the US election, according to Crypto Rover. If Trump wins the election and Bitcoin price rises, the expert predicts that Bitcoin may be worth $2 million by 2025.