At the moment, the Bitcoin rate exceeds the level of $71 thousand dollars. And the top of the coin market by capitalisation looks as follows.

The current rates of the largest cryptocurrencies by market capitalisation

Experts have traditionally reacted to what is happening. For example, the chief analyst of Bitget Research Ryan Lee connects the growth of the market with the upcoming improvements in the US economy, which will affect the rest of the world. Here’s the relevant quote.

Several factors are supporting Bitcoin’s potential growth – most notably the expected interest rate cut by the US Federal Reserve. The market generally expects the rate to sag 25 basis points on November 7, reducing it to a range of 4.5-4.75 percent. This will reflect the need for such adjustments to stabilise economic growth.

U.S. Federal Reserve Chairman Jerome Powell

Well, the head of research at CoinShares, James Butterfill, insisted on the importance of the upcoming US presidential election.

We believe that the current Bitcoin exchange rate and capital flows are significantly influenced by US politics. Well, the recent surge in inflows is clearly linked to Republican gains in the polls.

When Bitcoin will set a new exchange rate high

This week, experts at the trading platform published a report that contains the following quote about what’s going on.

The combination of election-related uncertainty, the Trump narrative and favourable fourth quarter seasonality is creating the perfect storm for Bitcoin, promising the approach of an exciting period regardless of price movements ahead of the election itself in a fortnight’ time.


As a reminder, October and November are historically the best months for Bitcoin. Still, in October, BTC appreciates by 22 percent on average, while the corresponding figure for the last month of autumn is 46 percent.


Bitcoin BTC value changes by month

Bitfinex analysts said that contrary to Bitcoin’s high volatility amid geopolitical unrest in the Middle East and other macroeconomic concerns in the US, anticipation of Trump’s potential election victory on 5 November led to a sharp recovery in the cryptocurrency’s price.

As of today, BTC is up 3.3 percent over the past 24 hours, with the cryptocurrency hitting a local high of $71,587. According to Cointelegraph’s sources, trader activity is now at a six-month high.

15-minute chart of the Bitcoin BTC rate on the Binance exchange

According to Derive platform founder Nick Forster, Bitcoin price fluctuations could reach 20 per cent in a short period of time in the near future. His replica is cited by Decrypt.

The latest analysis of transactions allows us to draw some strong conclusions about the market dynamics in the run-up to important financial events.

In particular, it concerns Bitcoin-based options, which provide traders with an additional opportunity to connect with the digital asset. The expert continues.

The overwhelming prevalence of call options being sold suggests strategic premium harvesting by traders, while the concentration of trades around the $80,000 strike price points to a potential turning point for Bitcoin.

In the last 24 hours, more than 47 per cent of options traded were calls, i.e. bets on the price to rise. The volatility dynamics across different expiry dates of the securities shows that traders are preparing for tough conditions in the coming weeks, but are still unsure of the market’s direction.

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Short-term volatility, which reflects expected price movements, is currently outpacing long-term volatility. And a noticeable spike is expected around election week, Forster added.

This means traders are betting on the immediate impact of the U.S. election on Bitcoin’s price. The cryptocurrency market itself as a whole will potentially face sharp swings as events unfold.

The volume of open positions in Bitcoin options

Recall that on 5 November, Americans will visit polling stations to vote for current Vice President Kamala Harris or former President Donald Trump. From the spring, Trump promises to introduce a clearer policy of regulation of digital assets and get rid of those who hindered the development of innovation. For example, this definitely includes Securities Commission Chairman Gary Gensler.

Trump is currently ahead of Kamala Harris on decentralised betting platform Polymarket by about 30 per cent, while Harris is ahead of Trump by 1.5 per cent in some national polls.

The balance of power in the upcoming US presidential election on Polymarket

Previously, Polymarket has faced accusations of manipulation, due to which the situation does not look unambiguous until the end. However, the assessment of the chances of candidates for the post of the US President is made taking into account the activity of traders.

This means that at least within the decentralised platform, Trump is indeed more popular among those willing to bet. And this factor should also be taken into account.


It seems that crypto will attract more and more investors in the coming months. Barring the factor of Donald Trump's possible success, we are also looking forward to a continued easing of restrictions in global economies. With this in mind, investors will be interested in investing in alternative assets, which is now primarily represented by crypto.


Look for more interesting things in our crypto chat room. We definitely look forward to seeing you there to make as much profit as possible from the current bullrun in the coin industry.

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