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Dubai, United Arab Emirates, November 21st, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, releases a special quarterly report delving into post-election dynamisms and market outlook as crypto investors embraces America’s first “crypto president”. 

The long-form report also looks ahead at what comes next, noting an “insatiable” appetite for BTC exposure among institutional investors. However, the report proposes that institutions’ bullish buy-ins of BTC may not immediately spill over into altcoins—for want of viable options in the current ETF ecosystem. Overall, investors are betting on more Trump trades, positive economic prospects, and possibilities of further rate cuts, all of which could positively guide the path forward of BTC with its strengthening correlation with macro assets. 

Key Insights:

Trump rebranded as the “crypto president”: Trump’s dramatic return to office marks a striking shift in his posture on crypto. Previously a skeptic, if not a critic, he centered his 2024 campaign on advocating for BTC. This reversal carries significant implications for U.S. policy and regulatory frameworks, as the world’s largest economy switches gears to take a leadership role in the digital assets space. 

Market profits on prospective political gains: The post-election premium propelled BTC prices to rally from around $70k to over $90k within weeks. This intense volatility is seen not merely as speculative but as a broader reflection of market sentiment aligning with optimistic political developments. 

Regulatory outlook: Impactful crypto regulatory reforms are on the table with a Republican majority in the U.S. Congress. Targeted political spending during the election reshaped legislative priorities, particularly in key Senate races. As pro-crypto lawmakers take office, changes are in the air for crypto hopefuls seeking clarity and a pro-investment climate in the regulatory sphere. 

Altcoins Rising: With its dominance, BTC rallies often entail potential gains in ETH and SOL. Historically, Bitcoin's dominance peaks during bull markets, followed by a shift of capital into altcoins as investors pursue higher returns. With the incoming administration's pro-crypto stance, networks enabling smart contracts and decentralized finance (DeFi) may attract renewed interest as legislative focus on innovation in the cryptocurrency sector could accelerate investment in altcoins.

Trump's triumph marks a pivotal moment for crypto, bringing potential regulatory clarity and increased market engagement. As the stars align for the crypto industry politically and financially, market participants anticipate a transformative period with marked volatility, offering both new opportunities and challenges.

Users can access the Full Report here. 

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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