As U.S. elections loom, market dynamics are shifting, with Bitcoin set for a potential rally regardless of the outcome. Fundstrat's Tom Lee predicts a year-end surge as uncertainty fades, while Bernstein forecasts Bitcoin's resilience, projecting it could reach $200,000 by 2025 amid fiscal challenges. In a notable development, the Michigan state pension fund has revealed an $11 million investment in Ethereum ETFs, outpacing its $7 million stake in Bitcoin and marking a significant institutional shift. Meanwhile, election-related volatility has led a prominent whale to offload $4 million in bets on Polymarket regarding a Trump victory, following cautionary advice from trader GCR, underscoring the heightened
The global crypto market cap is $2.32 trillion, with a 24-hour volume of $90.68 billion. The price of Bitcoin is $69,728.42, and BTC market dominance is 59.4%. The price of Ethereum is $2,448.35, and ETH market dominance is 12.7%. The best-performing sector is Meme, which gained 8%. The Crypto Fear & Greed Index is currently Greed (70).
Fundstrat's Tom Lee sees year-end rally as election uncertainty fades, while Bernstein predicts Bitcoin's resilience and potential growth to $200,000 by 2025 amid fiscal challenges.
Comparatively, the fund has invested $7 million investment in Bitcoin, which was considered a 'big win' for Ethereum ETFs.
On-chain data platform Arkham Intelligence highlighted that the selling activity started right after known trader GCR advised caution.
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