Bitfinex recently stated in a report that the cryptocurrency market may experience significant volatility within three days after the results of the U.S. elections are announced. However, due to Bitcoin absorbing most of the capital in the market during this bull run, the hope for a substantial rebound in altcoins may be limited. (Background: Bitcoin is in an upward trend, why is the Web3 sector experiencing frequent layoffs?) (Additional context: Has it ended? Bitcoin rebounded after hitting $67,500, with the U.S. presidential election and the Fed's interest rate decision on the horizon...) Bitcoin reached a new historical high of $75,242 around 11:05 today, with an increase of 8.8% in the last 24 hours. Before the deadline, it slightly retreated back to the $74,000 level; investors are advised to be cautious of volatility. Bitfinex: The market will experience significant fluctuations from November 5 to 8. In this context, cryptocurrency exchange Bitfinex recently released a research report indicating that last week's increase was driven by the so-called “Trump trade,” as the market believed Trump had a significant lead over his opponent Kamala Harris, which subsequently increased Bitcoin buying pressure. However, as Trump’s winning probability decreased and the uncertainty of the U.S. elections deepened, Bitcoin's rise faced resistance. On the eve of the election results announcement (November 6, Taiwan time), while the market predicts a decline in Trump's winning probability, the implied volatility in the options market remained relatively calm, indicating that investors are currently in a wait-and-see state until everything settles. However, Bitfinex predicts that with the announcement of the U.S. election results and the Fed's upcoming interest rate decision in November, market volatility will greatly increase between November 5 and 8. Concerns over altcoin rebound prospects. On the other hand, although the market generally believes that Bitcoin has an upward trend in the long term, Bitfinex points out that investors seem to have lost their speculative interest in altcoins. Even though a significant amount of capital has been attracted into the cryptocurrency market, most of this capital is still absorbed by Bitcoin: There is a cold sentiment in the altcoin market, with Bitcoin's market share reaching as high as 60%, marking a new cycle high. When Bitcoin pulls back, altcoins tend to experience even more severe declines, and the speculative demand for altcoins seems to have completely disappeared. Since most of the capital flowing into the cryptocurrency market is absorbed by Bitcoin, altcoins find it difficult to keep pace with the upward movement, and without new catalysts, the rebound prospects for altcoins seem even more bleak in the short term. Related reports: Bitcoin falls below $70,000, has the correction ended? U.S. stocks all fall, Meta, Microsoft earnings fail to impress investors. Bitcoin rare occurrence of "1% discount" in the Korean market indicates BTC reversal is imminent? Plan B Network has achieved closer academic cooperation with Taipei University of Technology, Ming Chuan University, and National Chengchi University, witnessing the diverse development of Bitcoin in Lugano. "Bitfinex: Bitcoin will experience significant volatility 'within three days' after the U.S. election! Concerns over altcoin price increases" This article was first published on BlockTempo (the most influential blockchain news media).