Bitcoin’s next big move hinges on US election result.
The upcoming U.S. presidential election could heavily influence Bitcoin’s price trajectory.
While the election is the next key catalyst for Bitcoin btc0.57%Bitcoin and broader crypto markets, uncertainty lingers over the post-election outlook, according to recent QCP Telegram posts.
Options contracts expiring around the election are trading at a 10% premium compared to other expiries, signaling heightened market sensitivity to political developments.
QCP’s analysis suggests that any shifts in the polls or changes in the narratives of either candidate’s campaign could amplify spot prices.
Currently, Bitcoin is holding strong at around $67,000, briefly touching $68,000 following an over 2% rise. Trump’s potential victory has been positively correlated with stronger crypto performance, compared to Kamala Harris, who has expressed less supportive views on the sector.