The US presidential election on November 5, 2024 is keeping the financial markets on tenterhooks, especially in the crypto sector. After temporarily rising above $73,000, Bitcoin recently fell below $68,000 on new poll data showing a tighter margin between Trump and Harris.
Hedge funds are positioning themselves for the outcome of the election
Data from crypto options exchange Deribit shows a significant increase in the purchase of call options with strike prices between $70,000 and $85,000 for November. This positioning suggests institutional investors’ expectation that Bitcoin could rise after the election.
Many funds simultaneously hedge by purchasing put options and moving their options from November 8th to November 29th. This strategy takes into account possible delays in the announcement of election results due to legal challenges or recounts.
Pepe Unchained Presale as an alternative for investors
The new memecoin Pepe Unchained is currently in the presale phase and offers an innovative Layer 2 blockchain solution. The project promises cheaper and faster transactions compared to traditional blockchain projects and aims to build a complete ecosystem for memecoins with DeFi features.
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The presale offers private investors the opportunity to participate early in the project, which could offer potential for significant returns through its technological developments and focus on a broad ecosystem, especially in the coming bull market.
Find out more about Pepe Unchained
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