Airdrop Army

Election Jitters Spark Massive Bitcoin ETF Outflows

Election fever’s ramped up, and TradFi whales are in full risk-off mode. Just as voters prepped to hit the booths, U.S. Bitcoin ETFs saw a jaw-dropping $541 million vanish from their wallets Monday. According to CoinGlass data, this run ranks among the biggest outflows on record for Bitcoin ETFs, topped only by May’s $563.7 million fire sale, which hit right when Bitcoin’s price took a nosedive.

While the market was mostly bleeding, BlackRock’s iShares Bitcoin Trust (IBIT) somehow pulled in $38.4 million, holding strong while others tanked. Every other fund was out of luck. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the loss parade with a hefty $138.3 million exit. ARK 21Shares Bitcoin ETF (ARKB) lost the same figure, and Bitwise Bitcoin ETF (BITB) saw $79.9 million pulled out.

Trump, Harris, and the Battle for Crypto’s Future

Whispers are loud that big-money heads are prepping for impact, hedging against the political curveballs headed their way. Some of these mega-bulls believe Trump’s the guy to lift Bitcoin to the moon, viewing him as the pro-crypto contender who could spark bullish mayhem if he wins. JPMorgan insiders suggest a Trump victory could pump Bitcoin, while Bernstein threw out a wild price call—$90K for BTC if Trump takes it.

Harris, on the flip side, isn’t hitting the same bullish notes with crypto heads. Her stance is softer, with vague promises on blockchain innovation, but a regulatory undertone that’s got some Bitcoin OGs on edge. She’s known to back a cautious approach, especially focusing on regulating tech to protect certain communities—a factor that makes some hodlers nervous about her impact on the crypto scene.

Betting Odds and Liquidations Add Fuel to the Fire

The prediction markets are buzzing, and it’s clear nobody’s quite sure where this’ll land. Right now, Polymarket odds have Trump leading with a 62% chance, while Harris is at 38%. Yet a recent poll from Ann Selzer in Iowa says Harris has a slight edge. This cocktail of uncertainty is hitting the crypto markets hard. Bitcoin’s dipped 3.4% this past week, with Ethereum faring even worse, down 7.3%. The ripple effects are shaking up liquidations, with over $315 million cleared out in just 24 hours.

It’s clear the market’s bracing for chaos as traders eye both BTC and political outcomes, waiting to see where this rollercoaster lands.