Bitcoin, Ethereum, Dogecoin Pump On Election Day: Medium-Term Outlook Is 'Super Bullish,' Says Analyst
Bitcoin, Ethereum, Dogecoin Pump On Election Day: Medium-Term Outlook Is 'Super Bullish,' Says Analyst -Cryptocurrency markets are trading higher as markets predict a Trump win, boosting sentiment. CryptocurrencyPrice Gains +/-Bitcoin BTC/USD $70,020.74+3.2%Ethereum ETH/USD $2,446.49+0.7%Solana SOL/USD $167.03+4.5%Dogecoin DOGE/USD $0.1728+8.6%Shiba Inu SHIB/USD $0.00001802 +6.5%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 89.1% and daily active addresses growing by 25.1%. Transactions greater than $100,000 are up from 5,942 to 8,295 in a single day. Exchanges netflows are down by 60.2%. Coinglass data reports 79,522 traders were liquidated in the past 24 hours with the total liquidations at $218.60 million. Notable Developments: As MiCA Nears Full Adoption, Could Europe Become World’s Web3 Destination? Bitcoin, Ethereum ETFs Record Over $600 Million Net Outflows Ahead Of Election Day Coinbase CEO Brian Armstrong Criticizes Regulatory Overreach: ‘Nothing To Capture In Small Government’ Michigan Pension Fund Invests $10M In Ethereum ETFs, Exceeds Bitcoin Holdings Top Gainers: CryptocurrencyPrice Gains +/-Aerodrome Finance AERO/USD$1.17+10.6%Artificial Superintelligence Alliance FET/USD$1.24+10%Bittensor TAO/USD $456.89+10%Trader Notes: With Bitcoin prices reclaiming the $70,000 mark, crypto trader Bitcoin Munger stated that the 4-hour chart is strongly indicating a post-election Bitcoin pump. Another crypto trader expects Bitcoin moving to the upside, with resistance in the region between $70,094 and $73,589. He believes the micro support is located between $67,413 and $68,297. Also, a short-term further upside is favored as long as the price holds above $67,413.Fred Krueger drew parallels to historical price performance of Bitcoin after elections. He noted that the three-month mark resulted in a new all-time high after the last election. What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Read Next: Veteran Traders Share ‘Presidential Election Crypto Trading Roadmap,’ Predict Heavy Volatility Image: Shutterstock This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.