Voting Kicks Off in Dixville Notch as Election Day Begins
Election Day has officially begun in the United States, with voting starting at midnight in Dixville Notch, New Hampshire, a town known for its first-vote tradition dating back to 1960. With just six voters this year, the results were a tie, as Kamala Harris and Donald Trump each received three votes. Voting is now underway across the country, with early results expected shortly after polls close around 6 pm ET.
As ballots are cast, the Associated Press will report presidential, Senate, and House race results. Final tallies are expected once polls close in the Aleutian Islands, Alaska, which will conclude voting for the day. With the potential for close results, final outcomes may take longer, as seen in the 2020 election.
Market Response and the “Inverse Cramer” Signal
TV personality Jim Cramer analyzed the market’s reactions leading up to the election, interpreting recent trends as confidence in a Harris victory. However, some investors are taking his outlook as an “Inverse Cramer” signal, speculating that it could suggest a Trump win. The “Inverse Cramer” trend has even inspired a short-lived ETF designed to profit from taking the opposite stance of Cramer’s stock predictions.
The focus on this election among crypto investors reflects the industry’s growing political role, as the winner could influence future U.S. crypto policy.
Bitcoin’s Election Day Performance and Expected Volatility
Bitcoin prices, which started Election Day around $69,000, are anticipated to experience volatility as results come in. According to Bitfinex analysts, Bitcoin could see heightened price movement post-election, potentially signaling market direction as investors await a clearer regulatory future for digital assets. If volatility remains low, it could signal deeper concerns in the crypto market.
Some analysts suggest that a Trump win may be more favorable for Bitcoin’s price due to his generally pro-crypto stance. However, Sygnum analysts believe that Bitcoin may rally regardless of who wins, with anticipation that new policies could support crypto growth in 2024.
U.S. Bitcoin ETFs Show Significant Outflows Pre-Election
On Election Eve, U.S.-based Bitcoin ETFs saw a large net outflow of $541 million, marking the second-highest withdrawal day to date. Only BlackRock’s iShares Bitcoin Trust ETF registered inflows, totaling $38.4 million. The sell-off mirrors market caution as traders reduce exposure to risk assets amid election uncertainty.
Trump and Harris Make Final Campaign Pushes in Battleground States
Both candidates completed their campaigns with rallies in key swing states. Kamala Harris campaigned in Pennsylvania, stopping in Scranton, Allentown, Pittsburgh, and Philadelphia. Donald Trump made appearances in North Carolina, Pennsylvania, and Michigan, returning to Florida to cast his vote and host an election-night gathering.
Crypto’s Political Moment
With this election, crypto’s political role has grown, as investors await results that may shape regulatory and legislative frameworks in the U.S. for years to come.
Disclaimer: Nothing in this article, or any content from Web30 News, should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves risks, and investors should be aware that capital is at risk and returns are never guaranteed. Please conduct thorough research and consult with a qualified financial advisor before making any investment decision.
