Over the past decade, Bitcoin's average return for the second half of October was twice that of the first half. The options market shows a bullish bias for the upcoming November and December expirations.

Key Impacts

• The U.S. election results could significantly affect Dogecoin and Cardano's ADA, as these tokens may see the greatest fluctuations.

With the U.S. presidential election approaching, traders are preparing for potential market movements. Recent bullish trends in crypto assets have been attributed to factors including Chinese stimulus and rate cuts from Western central banks.

Historically, the second half of October has been profitable for Bitcoin, generating double the returns of the preceding half according to a study from Coinglass. The upcoming election could lead to Bitcoin moving 10% in either direction if history influences market dynamics.

Data Insights

ETC Group's analysis indicated that Bitcoin could exceed the high of $73,697 based on current trading prices, depending on the election outcome.

Quotes from Financial Analysts:

“As we approach the U.S. election with Trump as the likely candidate and Harris maintaining a favorable stance, the broader digital asset ecosystem looks poised for mainstream acceptance.”
Translation: "As we approach the U.S. election with Trump as the most likely candidate and even Harris looking okay from a digital asset perspective, the broader digital asset ecosystem is indeed becoming more likely to become mainstream."

Polling data indicates bullish sentiment in the options market, particularly towards a Bitcoin price increase, highlighting the mounting speculation as election day nears.