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.
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) 
$104,672, has risen by 0.59% to trade at $68,857. Meanwhile, the leading altcoin, Ethereum (ETH) 
$3,312, has increased by 0.56%, priced at $2,471.
