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COINTURK NEWS > Cryptocurrency News > Market Players Anticipate Impact of Upcoming Presidential Election Results
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Market Players Anticipate Impact of Upcoming Presidential Election Results

In Brief

  • The U.S. presidential election heightens financial market tensions.

  • Options market shows increased activity ahead of the election.

  • Market reactions are anticipated based on election outcomes.

Ömer Ergin
Ömer Ergin 6 months ago
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The upcoming presidential election in the United States has heightened tensions in both political and financial markets. While prediction platforms indicate a 55% chance of Republican candidate Donald Trump returning to the presidency, this figure has notably dropped from 66% just a week ago. Platforms like Polymarket show that these odds align closely with recent poll results.

Contents
Increased Activity in the Options MarketMarket Expects Election Results to Influence Prices

Increased Activity in the Options Market

Throughout the weekend, sideways price movements and a decrease in the total size of positions in futures markets, dropping from $30 billion to $26 billion, led market participants to speculate that they are waiting for the election results.

Growing unease in the cryptocurrency market has also manifested in the options market this week. There is a significant uptick in demand for positions aimed at hitting the $75,000 mark by the end of November. Interest in these positions has surged since Friday.

Market Expects Election Results to Influence Prices

The general expectation within markets is that the results of the 2024 U.S. presidential election will direct market movements. If Trump wins, a sharp rise in cryptocurrency prices is anticipated, while a victory for Democratic candidate Kamala Harris may provoke a negative market reaction. However, it is currently predicted that the market will remain stable within a certain range until the election results are clarified.

The results of the election and the market’s response to these outcomes are keenly awaited by cryptocurrency investors. With just hours left until November 5, the largest cryptocurrency, Bitcoin (BTC) $103,839, has risen by 0.59% to trade at $68,857. Meanwhile, the leading altcoin, Ethereum (ETH) $2,588, has increased by 0.56%, priced at $2,471.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 4 November, 2024 - 6:36 pm 4 November, 2024 - 6:36 pm
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