Donald Trump’s Victory and the Mobility of Bitcoin Whales
Donald Trump, one of the prominent candidates in the US presidential elections, attracted attention with his statements and election campaign. In particular, his positive attitude towards Bitcoin created great excitement among cryptocurrency investors. According to decentralized forecasting platform Polymarket, Trump’s chance of victory is assessed at 99 percent, raising investors’ hopes. The fact that Kamala Harris had only 1 percent of the votes further increased the interest in Bitcoin among Trump’s supporters.
These developments caused a significant rise in the price of Bitcoin. BTC reached a new peak in a short time, reaching $ 75,400. This rise is seen as a harbinger of a bull season in the cryptocurrency market. As the demand for Bitcoin increased, large investors called whales also took action. The movements of whales in the market are often an important factor affecting price movements.
Appetite Level for Bitcoin Is Increasing
According to crypto analysis platform Lookonchain data, 11 different crypto wallets recently withdrawn a total of 1,806 BTC (approximately $132 million) from the Binance exchange. This provides an important indication of how Trump’s election success affects Bitcoin whales. Whales transferring their Bitcoins to cold wallets instead of the exchange is generally interpreted as an indicator that the market will rise.
- Movements of Whales: In the cryptocurrency market, whales can influence prices by buying and selling large amounts of Bitcoin. Therefore, movements in whales’ wallets must be carefully monitored.
- Market Dynamics: Bitcoin’s price is determined by the balance of supply and demand. Bitcoin pulled out of the exchange by whales may cause a price increase by reducing the market supply.
- Cold Wallet Usage: By keeping their Bitcoins in cold wallets, Whales can aim to make long-term investments without being affected by market fluctuations.
As a result, Donald Trump’s success in the elections caused a significant increase in the value of Bitcoin and the movement of whales. For cryptocurrency investors, this could herald a long-term bull season. These developments in the crypto market stand out as a process that investors should follow carefully. Tracking the movements of whales has become very important for making strategic decisions in the market. Therefore, investors need to take careful and conscious steps in this process.
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