Matrixport: Bitcoin demand surges due to increased probability of Trump's victory and rising ETF purchases
ChainCatcher news, Matrixport released a daily chart report. In November 2016, when Trump was first elected, the price of Bitcoin was around $700 per coin and surged significantly in his first year in office.While a single data point is insufficient to form a trend, market optimism remains high. Many believe that if Trump is elected again, regulatory relaxations could lead to further upward movement for Bitcoin. Currently, the betting market estimates Trump's winning probability at 66.5%, which could become one of the largest margins in history.Meanwhile, Bitcoin demand continues to rise, with recent daily Bitcoin ETF purchases reaching $800 million, further reducing the supply of Bitcoin on exchanges.