🚨☝️ The result of the elections in the United States, which has proclaimed Donald Trump as the new president, has been a true catalyst for the price of Bitcoin this week.🚀
In March, fueled by the halving and the ETFs approved in January, the main cryptocurrency in the market was marking historic highs. After the election result was known, it not only surpassed these highs but shattered them every 24 hours.
The week leading up to the elections was a true reflection of political polarization. The dominant narrative suggested that a possible victory for Donald Trump could bring positive momentum for Bitcoin, given his pro-crypto stance and his commitment in his 2024 campaign to less restrictive policies in this area.
This led many investors to see Bitcoin as a speculative bet to benefit from a victory for the Republican candidate, resulting in a "Trump pump" or bullish momentum driven by the expectation of a Trump victory.
This phenomenon generated a flood of inflows into Bitcoin exchange-traded funds (ETFs) in the days leading up to the elections, although sentiment changed radically on November 4.
Just one day before the elections, Bitcoin ETFs in the United States experienced their second-largest outflow in a single day, with more than $540 million withdrawn from the market.
This shift suggests that many investors decided to secure profits or protect their assets in the face of the possibility that the election result could be unfavorable to their expectations.
#BTC80K #Bitcoin! #BitcoinPrediction #Trump #BinanceRiskteam
