U.S. election ‘Trump Trade’ fuels Bitcoin towards $74,000 record high
U.S. election ‘Trump Trade’ fuels Bitcoin towards $74,000 record high
Bitcoin is powering through a high-volatility season, and November looks ready to deliver fresh price action.
With election hype and Donald Trump’s crypto support fueling a bullish “Trump trade” narrative, BTC has surged past $70,000, climbing over 8% early this week and closing in on its all-time high of $74,000.
The “Trump Trade” effect and BTC price milestone
As the U.S. presidential election intensifies, Bitcoin investors are lining up behind Trump’s pro-crypto stance. A Trump victory is widely seen as a boon for BTC, with his policies favoring digital assets, while Vice President Kamala Harris’s more restrained approach leaves the crypto community cautious.
This “Trump trade” effect has been pushing Bitcoin upward, lifting sentiment and optimism across the market. Options trading has surged, with implied volatility forecasted to reach over 100 vol by November 8, while bullish calls are being set at $100,000 and above. With traders eyeing a new record high, BTC’s price trajectory in the short term may be heavily influenced by election outcomes.
BTC has already touched $73,500 and is showing strong momentum toward breaking its all-time high any time soon. With institutional interest and retail traders rallying around key price milestones, the market sentiment is undeniably bullish. Options with strike prices above $100,000 are pulling in interest, reflecting confidence in BTC’s long-term growth.
BTC’s rally is more than just election excitement; it signifies new levels of institutional confidence. In addition, November volatility may not surprise us all, but Bitcoin’s path forward has never looked more energized.
Bitcoin ETFs in the US attract record $827 million inflows. A sign of growing confidence in Bitcoin
