Coin Metrics analyses $3T crypto market before election
Coin Metrics recently released a report analysing potential impacts of the 2024 U.S. presidential election on the crypto market, focusing on Bitcoin (CRYPTO:BTC) and other major digital assets.
According to the report by Tanay Ved and Matías Andrade Cabieses, Bitcoin has shown a historical pattern of increased volatility during U.S. election periods, with price fluctuations often lasting approximately 30 days post-election.
The report highlights that “Bitcoin’s realised volatility has historically increased around U.S. elections, typically remaining elevated for approximately 30 days post-election.”
This pattern suggests that political shifts can play a role in shaping market dynamics, particularly for assets sensitive to external events.
Coin Metrics’ report also draws connections between U.S. elections, Bitcoin halving events, and Federal Reserve policies, noting that the combination of these factors often reduces market uncertainty and can drive bullish sentiment in the cryptocurrency space.
For the upcoming election, volatility levels have been relatively low, but the report anticipates increased fluctuations as the election date nears, underscoring how political developments may impact digital asset values.
Additionally, the report examines Polymarket, a prediction market platform, to gauge investor sentiment surrounding the election.
Recent shifts in Polymarket odds for key political figures indicate growing global interest in the U.S. election’s outcomes and their possible effects on crypto markets.
Coin Metrics found that much of Polymarket’s trading volume takes place outside typical U.S. trading hours, highlighting the significant international attention on the election’s implications for crypto.
Looking forward, Coin Metrics advises monitoring key metrics, including trading volumes for major cryptocurrencies like Bitcoin, Ether (CRYPTO:ETH), and Solana (CRYPTO:SOL), as well as the ETH/BTC ratio and open interest levels in Bitcoin futures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








