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10x Research: The Preferred Tactical Trade Before the U.S. Election is to Go Long on Bitcoin and Short on Solana

ChainCatcher news, according to CoinDesk, as the U.S. presidential election approaches, the market is betting on potential significant price volatility, which could pose challenges for trend traders. In light of this, 10x Research recommends a prudent hedging trade involving Bitcoin and Solana as a tactical choice to cope with the expected market turmoil triggered by the election.Markus Thielen, founder of 10x Research, stated in a report to clients on Monday that tactical trading related to the election may involve going long on Bitcoin and shorting Solana. The election results will have a profound impact on digital assets, including the potential approval of U.S. ETFs linked to alternative cryptocurrencies like SOL. If Harris wins, the likelihood of these ETFs being approved may decrease, potentially leading to a 15% drop in Solana's price, while Bitcoin's decline may be more limited, around 9%; if Trump wins, SOL, BTC, and Ethereum could rise by about 5%. In the event of a potential Trump victory, BTC and ETH may see greater gains than SOL, as spot ETFs linked to Bitcoin and Ethereum are already trading in the U.S. and have attracted billions of dollars in investor funds this year.The U.S. will vote to elect a new president in a few hours. According to the latest reports, the presidential race is tight, with Democrat Harris and the reportedly crypto-friendly Trump neck and neck in several swing states. According to Thielen, another reason for shorting SOL is that the daily transaction fees on the Solana network have dropped to $2.5 million, whereas, according to data from Artemis and TokenTerminal, this fee had reached a historical high of $5 million on October 24. Historically, similar declines in fees have put pressure on token prices.
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