US elections Bitcoin with pre-investor interest 
$71,218The price of is moving upwards again. While the price of Bitcoin increased from 69 thousand dollars to 71 thousand dollars in the last 24 hours, market analysts point out that this rise is sustainable. Improvement in technical indicators, spot Bitcoin Increasing demand for ETFs and macroeconomic factors stand out as the main factors behind this rise, especially one week before the US elections. Bitfinex analysts commented that “a strong rise period is at the door for Bitcoin”, with the expectation that Trump could win the election and the fourth quarter being historically positive in the markets.
Expectation of 80 Thousand Dollars Increases in the Bitcoin Options Market
options marketThe positive outlook of Bitcoin attracts attention. Investors are taking positions that the price of bitcoin may exceed 80 thousand dollars by the end of the year. According to Bitfinex analysts, call options worth $80 thousand, which will expire on December 27, have gained popularity among investors. However, as the election date approaches, implied volatility increases, which indicates short-term fluctuations in price.
Bitfinex emphasized that there was an increase in option premiums expiring during the US election week and that implied volatility may peak after November 5.
QCP Capital He also drew attention to the increasing volatility due to the election week and emphasized that the expected fluctuation rate in this process exceeded 60 percent. The company added that call demand decreased as Bitcoin remained stable above $70,000, but open interest in perpetual futures contracts reached its highest level on an annual basis, which supports the upward expectation.
Spot Bitcoin ETFs See Record Net Inflows
Spot Bitcoin ETFThe demand for ‘s continues to increase. There was a net inflow of $479 million into spot Bitcoin ETFs on Monday. This corresponds to the highest daily inflow amount in the last two weeks. Most of these inflows came from BlackRock with $315 million. IBIT ETF covered. The ETF continued its 11-day streak of positive flows, according to the data. Other major entries include Ark and 21Shares’ ARKB and Fidelity’s FBTCWhile the total transaction volume reached 3 billion dollars.
Fundamental indicators of the Bitcoin network also support the bullish outlook. Mining difficulty It’s up 4 percent, and the next difficulty level is expected to go up another 6 percent. Blockware Intelligence stated that this increase positively contributed to the overall market health of Bitcoin by increasing network security.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
