Bitcoin, Ethereum, Dogecoin Reverse As Trump Chances Fall In Betting Markets: Trader Says ‘Bull Run Will Begin’ For This Crypto After Election – Grayscale Bitcoin Mini Trust (BTC) Common Interest Shares dividend yield (ARCA:BTC)

The leading cryptocurrencies returned over the weekend as an opportunity to Donald Trump winning the presidential election fell sharply in the forecast markets.

Financial income	Salaries +/-	Price (Reported at 8:30 pm EDT)
Bitcoin BTC/USD	-1.21%	$68,324.16
Ethereum ETH/USD	-1.93%	$2,438.68
Dogecoin DOGE/USD	-4.17%	$0.1519

What happened: Bitcoin it fell to $67,500 in the morning hours, a sharp reversal from its new highs last week. The first cryptocurrency recovered to $ 68,000 in the evening.

The pullback appeared to be linked to Trump’s decline in market predictions, including Polymarket, which gave him a 54% chance of winning, up from 66% in Oct. 30.

Total cryptocurrency liquidations have exploded above $362 million in the past 24 hours, with $264 million in long-term liquidations being liquidated.

Bitcoin’s Open Interest is up 1.45% in the last 24 hours. The increase in OI, which comes along with the decrease in price, indicated an increase in short selling.

Additionally, more than 61% of all derivatives traders with open positions were short on Bitcoin, according to the Long/Short Ratio.

That said, market sentiment remained in the “Greed” category, according to the Cryptocurrency Fear and Greed Index.

Super Rich (24 hours)

Financial income	Salaries +/-	Price (Reported at 8:30 pm EDT)
Unchangeable (IMX)	+2.63%	$1.10
A link in the chain (LINK)	+0.98%	$156.80
Sui (SUI)	+0.56%	$1.92

The global cryptocurrency stands at $2.28 trillion, after a decrease of 1.05% in the last 24 hours.

Stock futures were down in overnight trading on Sunday. The Dow Jones Industrial Average Futures dipped 151 points, or 0.37%, as of 7:35 pm EDT. The future is bound to S&P 500 lost 0.19%, while Nasdaq 100 Futures decreased by 0.10%.

Investors braced themselves for Nov.’s high-profile election. 5 between Trump and Kamala Harris there is no clear favorite in the betting markets and national elections.

Another big event to watch is the Federal Reserve’s FOMC meeting on November 7, and traders are down 25, according to the CME FedWatch tool.

See more: Best Cryptocurrency Apps

Analyst Details: CrediBULL CryptoThe well-known X account, known for providing insight into cryptocurrency trading, noted the “constructive” low of the Bitcoin period and that the first cryptocurrency was forming a base before pushing to the upper one.

Down times look very constructive here- $BTC looks set up below here for a push to the ATH.

The yellow line on my chart that we added to mark our pico bottom is a very important level of analysis- if you want to know where it’s coming from, zoom in each month… https://t.co/XVNmyEAmif pic.twitter.com/JVF3F97ZF6

– CrediBULL Crypto (@CredibleCrypto) November 3, 2024

Contrary to the bearish market outlook, the cryptocurrency trader is followed by many people Nihilus he believed that Ethereum’s bull run will start after the election.

“Many people think that ETH will go down because of the underlying financial conditions, but the market maker doesn’t think so. Last year around this time, no one said that ETH would reach to $ 2,000, and now almost no one says that ETH is preparing for a bull period,” the trader said.

Many people think $ETH it will go down because of lower financial conditions, but the market maker doesn’t think so. Last year at this time, no one was saying $ETH it can be as high as $2,000, and now almost no one is saying that $ETH it’s getting ready for the bull season.

After the election,… pic.twitter.com/JgQ9T1G2BD

– Nihilus (@nihilus_XBT) November 2, 2024

Image by Igor Faun via Shutterstock

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