This article is about blockchain, business, and technology news.

After Donald Trump won the US presidential election, two major Bitcoin investors, known as “whales,” significantly increased their holdings. Trump’s victory increased investor appetite for risky assets like Bitcoin, and the BTC price reached a new high.

On November 6, the wallet “bc1qh” bought $50.4 million worth of Bitcoin from Binance. Another whale, “bc1qa,” bought $92 million worth of BTC on November 7. The movements of these whales indicate that demand for Bitcoin is increasing.

Whales’ buying and selling movements can significantly affect cryptocurrency prices. Investors follow these movements to understand short-term price trends.

Trump’s victory has inspired optimistic projections that Bitcoin could reach $100,000 by the end of 2024. Ryan Lee, chief analyst at Bitget Research, said that market leverage could push BTC to these levels.

New Bitcoin whale addresses have emerged ahead of the election results. On November 6, $132 million worth of Bitcoin was withdrawn from 11 new wallets.

While market volatility is expected to increase after the election, some analysts believe this is necessary for the next phase of the bull cycle. Bitfinex analysts predict that the structure of the options market and the expectation of a Republican victory could push BTC to $80,000 by the end of 2024.

It is thought that the Republican Senate could prioritize more innovative crypto policies. This could create a more favorable environment for US crypto companies. Innovations such as the first staked Ether ETF are expected under the Trump administration.

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