In the short term, attention is certainly focused on the US elections, but in a broader context, the bullish trend for Bitcoin remains firmly intact. Right now, speculation about how a Trump or Harris administration might affect the market seems trivial, as market sentiments in the crypto sphere are remarkably clear: Harris means bearish pressure; Trump means bullish support. That is the case in the short term. But in the long term? The answer seems obvious — Bitcoin's path has historically been upward, whether elections are happening or not. The established trend for Bitcoin has always been clear — bullish in the long term, while the short term remains highly reactive.

Currently, there is an important short-term factor — the US elections. In this election cycle, Harris is perceived as a 'bearish candidate', while Trump is seen as a 'bullish figure'. The market swings sharply every day depending on the latest election updates, creating a tense and sometimes confusing atmosphere. Many are left puzzled about whether these movements reflect the true direction of Bitcoin or if market players are simply using the election hype to induce volatility.

Recently, I expressed concern: with the current election cycle favoring bearish developments for Harris, the price of Bitcoin is declining. Yesterday it fell below $66,000, hinting at a possible downturn. However, behind the scenes, institutional investors and major players seem to be quietly capitalizing on this decline. This week, the net inflow for spot Bitcoin ETFs in the US reached $2.1 billion, with whales positioning themselves for a potential bottom. What does this reveal? Perhaps it is part of a broader maneuver?

According to Farside Investors data, the weekly net inflow for spot Bitcoin ETFs in the US indeed reached $2.1 billion, including inflows of $2.02 billion in IBIT from BlackRock and $83.6 million in FBTC from Fidelity. As this information spread, it seems the broader market began to recognize these signs. Market sentiment stabilized, and we did not observe further sell-offs, but rather a strong recovery, with Bitcoin returning close to the $69,000 range. This suggests that many believe Harris's advantage is not a sufficient reason for shorting, suspecting that market forces may use election-related news to provoke hasty sales among retail investors.

When we pause and reflect on this rationally, the situation seems less daunting. In the long term, regardless of who occupies the presidential seat, Bitcoin's potential to continue growing remains strong. With limited supply and a deflationary nature exacerbated by losses and inaccessible wallets, Bitcoin's scarcity is likely to contribute to an increase in its value. This is a long-term trajectory that is hard to disrupt.

If we view the long-term perspective as strategy and the short-term as tactics, then strategically, there is not much need to worry about the impact of a single election on the broader Bitcoin trend. For those holding spot positions, the best approach may be to stay steady, minimize unnecessary movements, monitor the market, and let time work in your favor while the dust settles, allowing Bitcoin to resume its historical trajectory.

Nevertheless, even with this long-term confidence, it is crucial not to lose sight of short-term tactics. The immediate impact of the elections on Bitcoin's short-term price action is evident. In crypto circles, Harris is seen as a 'bearish candidate', and as her odds change, the price of Bitcoin follows suit. If she wins, we could see a strong reaction, possibly even a panic sell-off, leading to a significant market drop. On the other hand, a Trump victory could put bearish traders in a tough spot.

From a tactical standpoint, this is particularly relevant for those trading with leverage. In this uncertain climate, the best approach is to be cautious: trade less, avoid large positions, and ensure sufficient margin. In such volatile times, cash remains a powerful tool, offering flexibility and safety. How do you all see this?

#USElections2024Countdown #Elections2024 #uselections #BTCMiningRevenue