Major crypto investors have had a positive impact on the market by withdrawing $133 million worth of Bitcoin from Binance ahead of the US presidential election. The significant move highlights a long-term investment trend that aims to capitalize on Bitcoin’s potential resilience. According to analysts, the trend also highlights Bitcoin’s growing appeal as a hedge against economic uncertainty and political upheaval.
Major Attractions from Crypto Whales
According to data analysis conducted on November 6, major crypto investors withdrew a total of $133 million worth of Bitcoin from Binance. These withdrawals included approximately 1,807 BTC, and the assets in question were distributed to 11 new wallets. This strategic move by whales shows confidence in the long-term value of Bitcoin and their belief in potential future price increases.
Such large withdrawals suggest that investors are shifting funds away from centralized exchanges and toward longer-term investment strategies, which could limit liquidity in the markets. This behavior highlights that crypto whales are prepared for economic uncertainties and reflects a positive view on Bitcoin’s performance.
US Elections and Its Impact on the Crypto Market
The US presidential election has also caused significant volatility in crypto markets. On election day, market participants moved to assess the implications of potential policy changes, interest rate adjustments, and economic stability. This environment has led to major leverage liquidations for Bitcoin.
According to Coinglass data, there were approximately $557 million worth of liquidations in the crypto market during the election period. These liquidations particularly affected traders who used excessive leverage. This volatility, beyond the traditional effects of elections, also revealed the sensitivity of crypto assets to political events. Such risks experienced during leveraged transactions were an important warning for investors. Although the Bitcoin price experienced a temporary decline due to the election, the intense buying activity of whales reinforced confidence in Bitcoin’s market recovery potential.
Big ETF Outflows Ahead of Election
Ahead of the election, Bitcoin exchange-traded funds (ETFs) also saw significant outflows. This move suggests that market participants are adjusting their positions in preparation for possible post-election market changes. This suggests that investors are taking a cautious approach to uncertainty and are prepared for market changes.
Short-Term Fluctuation Expected in Bitcoin
According to Bitfinex data, implied volatility rates in the Bitcoin options market remain around 40%, while investors do not expect major price movements in the short term. According to Bitfinex analysts, low implied volatility in the options market ahead of the election suggests that investors are pricing in more uncertainty.
This cautious atmosphere may lead to minor fluctuations in the coming days, but a volatility spike is expected shortly after the election that could lead to major price swings. On social media platforms, especially Twitter, investors are predicting a strong bull market for November and have developed a common confidence in Bitcoin’s recovery and growth potential.
