Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-investors-stay-passive-during-election-day" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Investors Stay Passive During Election Day</a><br></p>
<p style="text-align: justify">CryptoQuant, a blockchain analytics company, has revealed that <a href="https://en.bitcoinhaber.net/analysts-raise-eth-etf-expectations" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> stakeholders in the U.S. exhibited a noticeable lack of activity during the recent presidential election. This trend reflects a larger pattern of trading behavior associated with pivotal political occurrences.</p>
<h2 id="what-does-the-bitcoin-premium-reveal">What Does the Bitcoin Premium Reveal?</h2>
<p style="text-align: justify">The Coinbase Bitcoin premium, which measures the price difference between Coinbase Pro and <a href="https://en.bitcoinhaber.net/the-ripple-effect-of-binances-us-deal-what-lies-ahead" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, has been negative for 32 consecutive days. On October 24, this premium reached -0.2% but stabilized at -0.06% during the election period, indicating diminished Bitcoin demand in the U.S. compared to international markets.</p>
<h2 id="how-are-etf-investments-being-affected">How Are ETF Investments Being Affected?</h2>
<p style="text-align: justify">In conjunction with the negative premium trend, daily net flows to spot Bitcoin ETFs plunged to a six-month low, with a recorded exit of $541 million on election day. This data suggests that many traders were withdrawing from ETFs prior to the election.</p>
<p style="text-align: justify">Key takeaways from the current Bitcoin landscape include:</p>
<ul>
 <li>The Coinbase premium’s prolonged negativity suggests reduced U.S. demand.</li>
 <li>Despite the drop in ETF investments, Bitcoin’s underlying fundamentals remain promising.</li>
 <li>Overall selling pressure on Bitcoin has eased significantly.</li>
 <li>Historical data shows substantial increases in Bitcoin prices following U.S. elections.</li>
</ul>
<p style="text-align: justify">Recent trends in the Bitcoin market highlight the intricate relationship between investor behavior during election seasons and market dynamics. While the negative premium indicates a slowdown in domestic demand, the strong fundamentals point to a potentially positive trajectory for Bitcoin in the long run.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-investors-stay-passive-during-election-day" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Investors Stay Passive During Election Day</a></h5>

Bitcoin Investors Stay Passive During Election Day

Table of Contents

BH NEWS

Other articles published on Nov 6, 2024

Analysts predict Ripple explosion to $7, 10x surge for SHIB and new exchange coin

Whales Place High-Stakes Bets on Kamala Harris’ Election

Ethereum In Smart Contracts Hits New ATH – Will It Drop Below $2300?

FTX's Nishad Singh Avoids Prison: Cooperation Earns Leniency Amid Crypto Collapse Fallout

Which Cryptocurrencies Are Hot? Best Investments for November 2024!

Terra Closes Shuttle Bridge for Good, Unredeemed Tokens Burned

Join our free newsletter for daily crypto updates!