10x Research: Long Bitcoin and Short Solana are the Preferred Tactical Trades Before the US Election

Odaily Planet Daily Report: As the US presidential election approaches, the market is betting on the possibility of significant price volatility, which could pose a challenge for trend traders. In view of this, 10x Research recommends a prudent hedging trade involving and , as a tactical choice to address the expected market turmoil triggered by the election. Markus Thielen, the founder of 10x Research, said in a report to clients on Monday that the tactical trade for the election may involve and . The election result will have a profound impact on digital assets, including the potential approval of US ETFs linked to alternative cryptocurrencies such as . If Harris wins, the likelihood of these ETFs being approved may decrease, potentially leading to a 15% drop in the price of Solana, while the decline in may be more limited, around 9%; if Trump wins, , and may rise by about 5%. In the event of a potential Trump victory, and may see greater gains than , as spot ETFs linked to and are already trading in the US and have attracted billions of dollars in investor funds this year. The US will hold a presidential election in a few hours. According to the latest reports, the presidential race is tight, with Democratic candidate Harris and the reportedly crypto-friendly Trump neck and neck in several swing states. According to Thielen, another reason for is that the daily transaction fees on the Solana network have dropped to $2.5 million, while according to data from Artemis and TokenTerminal, this fee reached a record high of $5 million on October 24. Historically, similar declines in fees have put pressure on token prices.