Bitcoin’s current valuation is similar to levels before past US elections, indicating potential for growth post-election. Historically, Bitcoin has surged after elections, with 2024 valuation at $67,000. Recent demand for Bitcoin has increased globally, but US investors remain cautious. Profit-taking and reduced leverage have led to a decline in open interest in Bitcoin futures markets, with traders preparing for potential volatility post-election. International demand for Bitcoin remains strong, driven by economic uncertainties outside the US. US investors are hesitant due to regulatory uncertainty and negative Coinbase premium. Post-election policy developments in the US could influence market sentiment and potentially lead to sustained rallies. Market conditions are mixed, with Bitcoin’s growth dependent on international demand and external economic factors. Bitcoin’s price is up 3.2% over the past 24 hours, with a market capitalization of $1.38 trillion and a 24-hour trading volume of $45.15 billion. The total crypto market is valued at $2.33 trillion, with Bitcoin dominance at 59.49%.
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