Bitcoin price metrics align to project further upside for BTC

November 6, 2024 Coin Telegraph

Adoption

Bitcoin options and futures markets display moderate optimism after a new BTC all-time high, which could be indicative of new price highs.

Bitcoin (BTC) surged by 10.5% to hit a new all-time high at $75,350 from Nov. 5 to Nov. 6 following former US President Donald Trump's win in the 2024 election.

Despite the recent price fluctuations, the market is demonstrating a strong foundation that supports continued growth. Bitcoin derivatives highlight the robust improvement in sentiment and the absence of excessive leverage, which are essential for gains above $75,000.

Bitcoin 2-month futures annualized premium. Source: Laevitas.ch

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Bitcoin Price Shatters $75,800 As Senator Cynthia Lummis Promises Strategic BTC Reserve

November 6, 2024 The Daily Hodl

Bitcoin

Bitcoin is soaring on optimism that President-elect Trump will follow through on his promise to support Bitcoin and the crypto industry at large. Republicans have won control of the Senate, with the House still up for grabs. And as the future balance of power comes into focus, Wyoming Republican Senator Cynthia Lummis is promising the […]

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BlackRock Bitcoin ETF sees $1B volume in first minutes of post-election trading

November 6, 2024 Coin Telegraph

Bitcoin

Some analysts expect Bitcoin’s price to surge following Donald Trump’s Nov. 5 election win.

Upward of $1 billion worth of BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) changed hands in the first minutes of trading after Donald Trump prevailed in the United States presidential election on Nov. 5, according to data from Bloomberg.

Analysts predict BTC’s price will keep rising now that Trump, a cryptocurrency-friendly Republican, is slated to start his second term as US president on Jan. 20.

Valuation models suggest “a $100,000 Bitcoin is quite possible by the time the 47th U.S. President heads to the Capitol for inauguration,” Fadi Aboualfa, head of research at Copper.co — a crypto custodian — told Cointelegraph in an email.

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Bitcoin whales accumulate $132M amid Trump victory projections

November 6, 2024 Coin Telegraph

Bitcoin

Investor appetite for risk-on assets like Bitcoin is growing, with Donald Trump projected to win the US presidential election.

New Bitcoin “whales,” or investors holding significant amounts, appear to be accumulating the cryptocurrency in anticipation of a victory by former President Donald Trump in the 2024 election.

Whales have acquired and withdrawn over 1,806 Bitcoin (BTC) worth over $132 million across 11 newly created cryptocurrency wallets.

The withdrawals from the world’s largest centralized exchange (CEX), Binance, were flagged by crypto intelligence platform Lookonchain in a Nov. 6 X post.

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Bitcoin Price Hits New All-Time High As Traders Bet Trump Will Beat Harris

November 6, 2024 The Daily Hodl

Bitcoin

Bitcoin (BTC) just hit a new all-time high of $74,504 as Donald Trump’s odds of winning the presidency surge on betting sites. The online betting site Polymarket now has Trump at a 92.2% chance of winning the election. At time of publishing, NBC News projects Trump has secured 210 electoral votes, with Harris securing 91. […]

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Citi Trader Says Bank Watching for ‘Trump Rip’ or ‘Harris Dip’ As Markets Brace for Election Results

November 5, 2024 The Daily Hodl

Citi

Citi’s US equity strategist says the bank will be looking for trading opportunities this week on election-induced market volatility. Speaking in a new interview on CNBC’s Squawk Box, Citi’s Scott Chronert says that the S&P 500 is mostly fair valued at current levels, but that the election could skew the market in either direction depending […]

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Solana rally follows Bitcoin price as SOL data points to traders’ $200 target

November 5, 2024 Coin Telegraph

Bitcoin

Solana gains alongside Bitcoin’s US election-related rally, and data hints that SOL price could hit $200.

Solana’s native token SOL (SOL) opened the day with a 5.3% gain to trade slightly above $167. The move accompanied Bitcoin’s (BTC) US election day rally to $70,550, and for many traders, the desired target for SOL rests closer to $200.

Currently, onchain data and derivatives market metrics suggest that SOL’s rally could continue in the short-term.

Solana continues to lead in decentralized exchange (DEX) volumes, a clear indicator of user activity and transaction fees, both of which are crucial for fostering sustainable growth and encouraging further project and trader adoption.

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US Treasury Adds $104,000,000,000 To National Debt in One Day As Total Outstanding Debt Shatters Record High at $35,951,000,000,000

November 4, 2024 The Daily Hodl

US Treasury Adds 4,000,000,000 To National Debt in One Day As Total Outstanding Debt Shatters Record High at ,951,000,000,000

Daily Hodl

The US national debt just hit a new record high after the Treasury Department added $104 billion to its outstanding balance in a single day. The Treasury’s Debt to the Penny database shows the government’s pile of debt is close to $36 trillion, clocking in at $35.951601173936 trillion. The US shattered the $35 trillion barrier […]

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Trump’s Cryptocurrency Aide: A Nation-State Will Enter the Bitcoin Market ‘in Size’

November 3, 2024 Bitcoin.com

Bitcoin

David Bailey, one of former President Trump’s cryptocurrency aides and CEO of BTC Inc., predicted that we are just months away from a significant bitcoin adoption movement by one or a few nation-states. Bailey believes that the next step is to establish bitcoin reserves. Trump’s Cryptocurrency Aide David Bailey Predicts Nation-State Bitcoin Adoption Explosion David […]

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Economist Alex Krüger Unveils Election Prediction for Bitcoin, Says BTC Could ‘Shoot Straight Up’ – Here’s Why

November 3, 2024 The Daily Hodl

Alex Kruger

Economist Alex Krüger is revealing his scenarios for Bitcoin (BTC) during election night in the US, saying that a fast move could be coming for crypto markets. The trader tells his 185,000 followers on the social media platform X that in the event of a Trump victory on election night, Bitcoin could “shoot straight up” […]

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