$BTC Donald Trump’s re-election could propel Bitcoin to $80K, AMBCrypto report reveals
Bitcoin’s bullish move to continue
The report reveals that a significant majority of investors believe in Bitcoin’s potential to rise under Trump’s administration. Specifically, 80% of the surveyed investors think that Bitcoin will experience a substantial price increase if Trump is re-elected, while only 20% believe his presidency could negatively impact the crypto market.
Discussions about Trump’s political influence on Bitcoin have intensified, accounting for 25% of all crypto-related posts on social media, further highlighting the significance of this political development.
In July, Bitcoin faced a challenging market environment, hitting a six-month support level at $53,485 due to sell-side pressure. However, it managed to recover to $66,000, with 86% of investors remaining profitable during this period.
Analysis of on-chain metrics
Positive funding rates in Bitcoin futures since May 2024 indicate that traders are optimistic about Bitcoin’s long-term price increase, suggesting a bullish sentiment in the market.
Furthermore, the derivatives market, which often serves as a predictor of future trends, shows a strong long-term outlook for Bitcoin, further supporting the bullish hypothesis.
The cryptocurrency market is closely observing the upcoming U.S. presidential election, particularly the potential impact of a Donald Trump re-election on Bitcoin's value. Additionally, the report highlights Solana's growing staking popularity and the expanding GameFi sector.
