A Rare Quiet Period for Bitcoin Awaits U.S. Election Results
Bitcoin’s Calmness Awaits a Major Move
Bitcoin has experienced an unusually stable period as speculators reduce their activity while awaiting the upcoming U.S. election results.
The volatility of the leading cryptocurrency has remained below 5% over 34 consecutive trading sessions, matching the longest quiet stretch observed this year, according to data compiled by Bloomberg.

Contents

Disappointment
Expectations
Conclusion

Disappointment

Disappointing Performance in October
This calmness has disappointed many cryptocurrency investors who have grown accustomed to strong performances in October, a month commonly known as “Uptober” due to the usual price rallies. Ki Young Ju, founder of the website CryptoQuant, mentioned in a post on X that if Bitcoin does not show gains in the coming days, it will mark the longest period of price stability during a year that includes the Bitcoin halving event.

Anticipation of U.S. Election Results
Many attribute this sluggishness to a lack of clear catalysts, as investors focus on the upcoming U.S. presidential elections. Former President Donald Trump has become an outspoken supporter of cryptocurrencies, while the stance of his competitor, current Vice President Kamala Harris, is less clear. It is speculated that she may continue the strict regulatory approach taken by President Joe Biden’s administration.

Impact of Regulatory Actions on the Market
Regulatory actions have also cast a shadow over the market. The U.S. Securities and Exchange Commission (SEC) recently accused Cumberland, a cryptocurrency trading arm of DRW Holdings, of operating as an unregistered broker for crypto assets worth over $2 billion. This move is part of a broader crackdown on major companies such as Binance and Coinbase.

Expectations

Post-Election Expectations
Many traders are anticipating a significant move for Bitcoin after the elections. Some believe that a Trump victory could boost Bitcoin prices, while Harris’ stance remains uncertain, with some speculating that she might adopt a more supportive approach toward cryptocurrencies and technology compared to President Biden.

Impact of Options Market on Volatility
According to Spencer Hallarn, head of external trading at GSR, Bitcoin’s volatility may continue to decline as the cryptocurrency matures into a widely accepted asset class. At the same time, traders are expecting an increase in volatility as the election date approaches, according to Zohaib Iftikhar, founder of Split Capital.

Conclusion

Amid the current calmness and the anticipation of U.S. election results, the cryptocurrency community remains on edge, waiting for the next major development that could shape the market, influenced by both political and regulatory factors.

A Rare Quiet Period for Bitcoin Awaits U.S. Election Results

A Rare Quiet Period for Bitcoin Awaits U.S. Election Results

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