Trump’s Victory Drives Bitcoin Futures Open Interest to Over $60 Billion

Donald Trump’s victory in the November 5 election has had a major impact on the Bitcoin futures market. The event has driven open interest in Bitcoin futures contracts to over $60 billion, up from $39 billion previously, indicating a surge in trading and speculative activity[1]. Analysts from Bitfinex believe that this surge reflects investors’ expectations of a future price increase and the use of leverage is common in trading strategies[1][2].

In addition, Trump’s victory is also considered a strong stimulus for the rise in Bitcoin prices, with predictions that Bitcoin could surpass the $100,000 mark. However, some experts also warn of possible risks, such as price corrections or a lack of stability due to high market volatility.[2][3][5].

Heads of organizations such as Bitget also emphasized that a change in SEC leadership with the possibility of more crypto-friendly policies under the Trump administration could support the sustainable development of Bitcoin in the future.[2][5].