Trump Maintains Lead Over Kamala in Election Predictions: BTC Traders Bullish
Title: Trump Maintains Lead Over Kamala in Election Predictions, BTC Traders Bullish
All prediction sites and models are pointing towards a potential victory for pro-Bitcoin candidate Donald Trump in the upcoming US presidential elections. According to analyst Jim Bianco of Bianco Research, platforms like Polymarket, Kalshi, PredictIt, and others are giving Trump a strong chance of winning, with some predicting a more than 60% likelihood.
This bullish sentiment towards Trump’s election prospects has had a noticeable impact on the BTC market. As Trump’s odds have increased, BTC has surged to nearly $70K in recent weeks. Speculators in the BTC market are viewing Trump’s potential win as a positive development, with some referring to it as an ‘election play.’
The optimism surrounding Trump’s chances has also spilled over into the BTC options market. Options traders have been pricing in a 20% chance of BTC hitting $80K by the end of November, with a significant amount of Open Interest in call options compared to put options. The put/call ratio, which tracks market sentiment, is currently at 0.55, indicating a strong bullish sentiment among traders.
Despite the bullish outlook for Trump, some traders are also considering the impact of Kamala Harris’s pro-crypto stance on the market. Regardless of the election outcome, BTC options traders are confident that the asset could reach a new all-time high.
At the time of writing, BTC is valued at $67K, just 9% away from its all-time high of $73.7K. The market remains poised for potential price surges or sell-offs in the coming days as the election results draw closer.
