Bitcoin faces increased volatility as the U.S. presidential election approaches, with uncertainty pressuring the market.
Altcoins like Ethereum and Solana struggle as Bitcoin dominance surges to over 60%.
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Bitcoin is set for significant volatility in the lead-up to the U.S. presidential election, with market uncertainty adding pressure to cryptocurrency prices. Altcoins, in particular, are facing ongoing struggles as Bitcoin continues to capture the majority of capital inflows.
As the U.S. presidential election approaches, Bitcoin investors are bracing for significant market volatility. Following an initial “Trump Trade” narrative, Bitcoin briefly neared its all-time high last week after months of sideways movement, only to experience a sharp correction.
Currently, Bitcoin is trading at $68,545.40, down 3.4% over the past week. With markets leaning toward a Republican win as beneficial for Bitcoin’s prospects, the election outcome remains uncertain, adding further pressure to the cryptocurrency market.
Implied volatility in Bitcoin options…
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