Since Donald Trump's victory in the US presidential election on 11/5, the outstanding Bitcoin futures contract (open interest) has soared from $39 billion to $60.9 billion.
Analysts from Bitfinex believe this increase is the result of natural leverage accumulation, as traders, including institutions, prepare for anticipated price volatility. This significant increase reflects high trading activity and market speculation, driven by expectations of a favorable legal and technical environment under the new administration.
Gracy Chen, CEO of Bitget, said Trump's victory has sparked optimism, leading investors to increase their use of leverage to capitalize on market opportunities. However, she warned that Bitcoin's inherent volatility could lead to price corrections, helping to stabilize the market.
Meanwhile, Ethereum (ETH) has outperformed Bitcoin in the past week, reaching a price of $3,600 on 11/27. This indicates a shift of capital from Bitcoin to Ether. Ethereum ETFs have also seen strong inflows, supporting the continued growth potential of this asset.
The global cryptocurrency market capitalization has increased by 2.1% in the past 24 hours, reaching $3.4 trillion. Bitcoin still dominates with a 54.7% share, while Ether accounts for 12.4%.
