The imminent United States presidential election has escalated tensions within both the political and financial sectors. Predictive platforms suggest a 55% probability of the Republican candidate, Donald Trump, securing his presidency once again, a figure that has significantly fallen from 66% just a week before. Platforms such as Polymarket reveal that these odds are closely aligned with recent poll results.
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Rise in Options Market Activity
Market Anticipates Election Outcomes to Affect Prices
Rise in Options Market Activity
Throughout the weekend, horizontal price motions and a decrease in the total volume of futures market positions, descending from $30 billion to $26 billion, have led market participants to conjecture that they are awaiting the election outcomes.
An escalating disquiet within the cryptocurrency market has also become evident in the options market this week. There has been a substantial increase in demand for positions targeting the $75,000 mark by the end of November. Interest in these positions has surged since Friday.
Market Anticipates Election Outcomes to Affect Prices
The prevailing anticipation within markets is that the outcomes of the 2024 U.S. presidential election will dictate market trends. If Trump emerges victorious, a substantial surge in cryptocurrency prices is expected, while a triumph for Democratic candidate Kamala Harris may elicit a negative market reaction. Nonetheless, the current prediction is that the market will maintain stability within a specific range until the election results are determined.
Cryptocurrency investors eagerly await the election results and the market’s reaction to these outcomes. With mere hours remaining until November 5, Bitcoin (BTC), the largest cryptocurrency, 
priced at $68,344, has seen a 0.59% increase, trading at $68,857. Meanwhile, the leading altcoin, Ethereum (ETH) 
priced at $2,442, has risen by 0.56%, valued at $2,471.
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Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility, thus posing a risk, and should conduct their own research.
