Bitcoin's Bullish Market in October: New Developments Brought by U.S. Politics

According to ChainCatcher reports, the cryptocurrency market has been demonstrating remarkable performance, especially now, ahead of the U.S. presidential election, with expectations of regulatory environment improvements supporting buying pressure.

**Bitcoin Outperforms Stocks and Gold**

This October, Bitcoin (BTC) recorded approximately a 4% increase, significantly surpassing the movements of global stock indices and gold during the same period. Bitcoin's recent fluctuations show a +0.38% change on the hourly chart and -2.26% over 24 hours, indicating ongoing short-term volatility. Market participants increasingly believe that these price movements are closely related to the political developments in the United States.

**U.S. Election Drives the Market**

Noel Acheson, author of the newsletter "Crypto Is Macro Now," attributes this month's Bitcoin rise primarily to the U.S. presidential election. His analysis suggests that the lead in prediction markets and opinion polls served as initial buying catalysts, followed by positive statements from some campaign camps regarding the cryptocurrency sector, further increasing upward pressure.

**Hopes for a Shift in Regulatory Outlook**

What the cryptocurrency industry is watching closely is how the next administration's cryptocurrency policies will develop. Acheson comments that it "does not seem as negative as the Biden administration," implying that the U.S. regulatory environment could improve compared to the current regime. Many investors believe that the stance on regulation could change significantly depending on the election outcome.

Moving forward, the developments in U.S. politics and regulatory posture are likely to be key factors influencing the overall trend of the cryptocurrency market.