Airdrop Army

Bitcoin hodlers just went giga-bullish, tossing a whopping $419 million into BTC-linked funds last week. Yeah, that’s a pivot from the ghost town vibe we saw just a week ago, when fund flows were negative. Why the sudden 180, you ask? Well, CoinShares, the EU asset whale, says it’s ‘cause crypto traders sniffing out a higher chance of a certain orange-hued former president back in the Oval Office. You know, the one who loves NFTs and wants all Bitcoin mined on U.S. soil.

Polls Over Data, Prez Picks Drive Inflows

CoinShares spilled the beans on Monday, saying crypto traders have straight up ghosted economic data. Inflation, GDP, job reports? Nah, too boring. Now, it’s all about the potential new Commander-in-Chief and his impact on BTC. With U.S. polls tightening between the elephant party and the donkey crew, traders are saying, “let’s bet on the elephant.” And with Trump pushing crypto on the campaign trail, BTC has suddenly become a political weapon.

“This trend is evident,” CoinShares said, “when strong economic data didn’t stop the outflows, but U.S. polling tilting towards Republicans lit a fire under inflows and price action.”

Bitcoin Rides the Surge, Prices Moon

And that’s how you send the king coin on a moon mission. Bitcoin’s now parked at $65,642 per sat, up almost 3% in just seven days, says CoinGecko. For a hot minute on Monday, it even poked above $66,000, which it hadn’t done in this spooky month. So yeah, bulls are back on the scene, getting loud again, all thanks to some political hopium.

Ethereum, Short Bitcoin Funds Get Wrecked

Ethereum? Nah, traders weren’t feeling ETH. They drained cash out of ETH funds and short BTC bets like they were hot potatoes. Instead, they rushed to Bitcoin ETFs—the new toys on the block, thanks to Wall Street behemoths like BlackRock and Fidelity, who scored SEC green lights earlier this year. Those ETFs are the gateways for normie investors to get in without touching actual BTC.

Kamala Harris, VP on the blue ticket, came late to the crypto lovefest, too. On Monday, she finally tossed out some crypto-friendly language, saying she’d back a framework to protect Black crypto investors. But at this point, the whales are swimming toward Trump’s waters, where the Bitcoin bags look fatter.