On November 5, the leading cryptocurrency could approach its ATH above $73,000. This view was expressed by Jeff Kendrick, head of digital asset research at Standard Chartered, based on an analysis of derivatives and trading volume metrics.
“We use daily bitcoin turnover indicators and popular strike prices to assess price movements post-election. Our base scenario is that the price of digital gold will be around $73,000 on election day,” noted the specialist.
He noted that in a scenario where Donald Trump wins, option break-even points indicate a potential price increase of about 4% immediately after the results are announced. Further growth of up to 10% is possible in the following days.
The analyst emphasized that the dynamics of the derivatives market provide insights into potential price movements post-election. Meanwhile, a high level of call options based on bitcoin expires on December 27 with a strike price of $80,000.
Republicans Could Boost Bitcoin Price
“A Republican victory could lead to a rise in bitcoin’s price to $125,000 by the end of the year,” noted a Standard Chartered representative.
Conversely, if Kamala Harris becomes president, the price of the leading cryptocurrency could significantly drop. However, according to Kendrick, by the end of the year, the price will recover to around $75,000.
The expert also considered other indicators, noting the following:
“Bitcoin’s price has risen in recent weeks, coinciding with other trades popular among Trump supporters. According to RealClearPolitics data, Trump’s current chances of winning are estimated at 59%, while other markets like Polymarket indicate a 75% probability.”
The researcher added that the recent drop in bitcoin’s price to a local low of $65,200 is likely the last before the upcoming US presidential elections.
Earlier, Bernstein analysts predicted the price of the leading cryptocurrency to reach $200,000 by the end of 2025.