• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Bitcoin

Like Nashville Bitcoin Conference, US Elections Will Be A ‘Sell-The-News’ Event: QCP

n70products by n70products
November 3, 2024
in Bitcoin
0
Like Nashville Bitcoin Conference, US Elections Will Be A ‘Sell-The-News’ Event: QCP
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


It’s the election season in the United States, and Bitcoin and the broad cryptocurrency trade have by no means been extra concerned within the political panorama. From the overtly pleasant stance of former President Donald Trump to the comparatively reserved place of Vice President Kamala Harris, there was fairly some drama within the interaction between the crypto market and United States politics. 

There have been quite a few discussions regarding the consequence of the elections and its potential influence on the crypto panorama. QCP Capital, a distinguished buying and selling agency, is amongst the most recent to weigh in on the outcomes of the polls and the impact on crypto, particularly Bitcoin.

QCP Thinks Bitcoin Value Will Drop Following Election End result — Right here’s Why

In a November 2 report, QCP Capital revealed that it expects the US elections to be one other “sell-the-news” motion regardless of the result. Just like the Nashville Bitcoin convention, the buying and selling agency expects many buyers to shut their BTC positions following the election on Tuesday, November 5.

In keeping with QCP, there was a sustained stage of short-term implied volatility above 72 vols for each Bitcoin and Ethereum within the upcoming elections. Because the title suggests, short-term implied volatility tracks the market’s expectations of worth actions within the close to future.

With this metric as excessive as 72 vols in the intervening time, there’s a sense that buyers are anticipating main worth swings within the Bitcoin and Ethereum markets following the elections. Nonetheless, a rise in put skews that the majority merchants foresee downward worth actions.

QCP highlighted that the rise in put skews means that merchants are taking “draw back safety,” with the expectation of a market correction. In the end, this aligns with the “sell-the-news” projection, mirroring the aftermath of the Nashville Bitcoin conference.

After virtually reaching its all-time excessive worth within the earlier week, BTC has skilled a notable pullback beneath $70,000. As of this writing, the premier cryptocurrency stands at round $68,150, reflecting a 2.2% decline prior to now 24 hours.

Binance Merchants Go Lengthy On BTC Futures

In a latest submit on X, Ali Martinez revealed Bitcoin futures merchants on Binance have begun to shut their brief place. In keeping with the on-chain analyst, 52.44% of the Binance futures merchants have now gone lengthy on the flagship cryptocurrency.

Bitcoin

Supply: Ali_charts/X

A surge in lengthy positions means that extra buyers are backing the Bitcoin worth to rise within the close to future. Therefore, this newest statement alerts a major shift in sentiment, with the market seemingly leaning in direction of a extra bullish outlook a number of days earlier than the US elections. 

It’s value mentioning that this modification in Binance merchants’ positions could also be a response to the latest dips in Bitcoin worth. It’s attainable that buyers are “buying the dip,” viewing the present worth as the proper entry level.

Bitcoin

The value of BTC on the day by day timeframe | Supply: BTCUSDT chart on TradingView 

Featured picture from iStock, chart from TradingView



Source link

Tags: BitcoinconferenceelectionsEventNashvilleQCPSellTheNews
Previous Post

Ethereum’s Purge update: Here’s what it means for ETH

Next Post

Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details

Next Post
Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details

Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Top Analyst Says ‘God Candle’ Loading on Solana-Based Altcoin, Updates Outlook on Bitcoin and Dogecoin

‘God Candle’ Loading for One Ethereum Rival, Says Analyst – Here’s His Outlook

November 28, 2024
XRP Bears Resurface—Key Levels to Watch Now

XRP Bears Resurface—Key Levels to Watch Now

February 27, 2025
Chainlink Unlocks 19,000,000 LINK Worth $262,000,000, Sends Majority to Binance: On-Chain Data

Chainlink Unlocks 19,000,000 LINK Worth $262,000,000, Sends Majority to Binance: On-Chain Data

March 16, 2025

Recents

US VP Vance to speak at Bitcoin conference amid Trump crypto controversies

US VP Vance to speak at Bitcoin conference amid Trump crypto controversies

May 11, 2025
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds Fast

Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds Fast

May 11, 2025
Ethereum’s TVL spikes past 53%: Is this the sign of a major ETH rally?

Ethereum’s TVL spikes past 53%: Is this the sign of a major ETH rally?

May 11, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bull Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Exchange Foundation Heres Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version