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Election volatility hits Bitcoin 🗳️
Bitcoin volatility is spiking ahead of the U.S. presidential election Tuesday, as money pours into Bitcoin ETFs.
Stephen Graves
November 04, 2024
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Bitcoin’s implied volatility surged to its highest level since July ahead of Tuesday’s U.S. presidential election, as investors braced themselves for potential uncertainty around the outcome.
Pre-election fever also saw $2.2 billion flow into crypto ETFs last week, with outflows on Friday reflecting “how sensitive Bitcoin is to the U.S. elections at present,” according to CoinShares researchers.
Meanwhile, PolitiFi meme coins also saw increased volatility in early-hours trading Monday, with Trump and Harris-themed coins posting double-digit movements in either direction.
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