The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

In a recent interview on the Unchained YouTube channel, the Galaxy Digital CEO, Mike Novogratz has outlined how he thinks Bitcoin will move after the US elections. He states that Bitcoin will spark a new bull market regardless of who wins the US presidential race.

Altcoins have lagged throughout the year amid regulatory uncertainty, and hence, K33 Research analysts said they are "more sensitive" to the election results.

The difficulty of Bitcoin mining has recently crossed an unprecedented threshold: 100 trillion. This feat, unimaginable just a few years ago, symbolizes both the robustness and the increasing complexity of the network.

In a major adoption boost for Bitcoin, a United Kingdom-based pension fund has added the bellwether crypto to its balance sheet — marking the first move of its kind in the nation. According to pension advisory firm Cartwright, the undisclosed fund made a 3% allocation to the apex cryptocurrency.

In a research blog on Monday, Coinshares revealed that MicroStrategy's (MSTR) ambitious plan to buy $42 billion more worth of Bitcoin is not without risks. The company announced a $21 billion at-the-money offering of its own stock last week to raise capital to buy more Bitcoin.

Bitcoin's current valuation aligns closely with its price levels before the past two US elections, suggesting that the crypto could be primed for growth if a favorable post-election catalyst surfaces, according to CryptoQuant's latest report.

The activity follows delays in creditor repayments, which have now been rescheduled to 2025 due to system issues.

Given that Bitcoin (BTC) recently ignited the fire of reclaiming its all-time high (ATH) price of $73,800, panic selling cut short this objective based on mass liquidation from short-term holders (STHs).

Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes for the 47th president. Betting markets leaned slightly toward Donald Trump, with CFTC-regulated Kalshi placing Trump's win probability at 56% compared to Kamala Harris's 44%.

The U.S. spot Bitcoin ETFs recorded a staggering $541.1 million net outflow on Monday, November 4—marking their second-largest outflow day in history. The timing comes as markets brace for heightened volatility tied to the 2024 U.S. presidential election, with the BTC price hovering around $68,000.

TL;DR The presidential elections in the U.S. have significantly impacted the crypto market, with Bitcoin and altcoins in the spotlight. Analysts warn that Bitcoin's price volatility could increase after the election, with expectations that a victory for Trump would favor its growth.

Bitcoin's resilience may keep crypto unaffected by the 2024 US election. Economic trends, and not political shifts, drive crypto growth and long-term value.

As of 12 p.m. Eastern on U.S. election day, bitcoin (BTC) remains steady above $70,000, currently priced at $70,283 per coin, reflecting a 3.8% increase over the past 24 hours. Despite Tuesday's gains, bitcoin shows a 3.1% decrease across the past week. Presently, BTC trades constitute $50.

Early Monday, an address associated with the defunct exchange Mt. Gox transferred its largest Bitcoin batch in months, roughly a few weeks after extending its repayment deadline.

The cryptocurrency market appears to be recovering as former U.S. President Donald Trump leads the presidential election polls. Amid the ongoing election, with Trump as a potential winner, Bitcoin (BTC), the world's largest cryptocurrency by market cap, has reached $70,000 while breaching the crucial resistance level.

The exchange has again moved billions in assets, but its recent deferral suggests no immediate relief for creditors.

On Monday, U.S. spot Bitcoin ETFs experienced a substantial pullback, with $541 million withdrawn—marking their heaviest daily outflow since May 1 and the second-largest since these funds began trading in January.

Analysts say Bitcoin is ready to test new highs after the US elections conclude, but $70,000 needs to hold as support first.

Semler Scientific, a medical device company known for its innovations in healthcare, has made a bold move by increasing its Bitcoin holdings to 1,058 BTC, valued at approximately $71.4 million. This decision comes after the company acquired an additional 47 Bitcoin for $3 million in August 2024, as part of its ongoing strategy to leverage its operational cash flow and stock sale proceeds to boost its cryptocurrency investments.

The recent Bitcoin price movement is causing a stir. After several rallies, some troubling indicators hint at potential price dips that could shake up the market. But while Bitcoin's recent moves have some traders on edge, a new Solana alternative, PropiChain, sparks interest and optimism.

Daily bitcoin inflows to exchanges are lower today than on previous U.S. Election Days, according to CryptoQuant analysis.

Bitcoin mining difficulty surpasses 100T for the first time with an average hashrate peaking at 840 EH/s.

Bitcoin, the leading cryptocurrency, managed to reclaim the $70,000 level earlier today.

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The Bitcoin price is again looking to reclaim the $70,000 level on the US election day. Following a brief break above this price level, Bloomberg analyst Eric Balchunas commented on why the flagship crypto could be an important indicator as the election kicks off.

Defunct crypto exchange Mt. Gox, once the most significant player in Bitcoin trading, moved $2.2 billion worth of Bitcoin on Monday.

exSat, the Bitcoin scaling network that recently launched its mainnet, has rolled out its Bitcoin staking program. It's been achieved through the deployment of exSat Bridge,

Major cryptocurrency Bitcoin (BTC) saw something anomalous on its radar in the last few minutes when, according to CoinGlass data, short positions, i.e., bearish sellers, were liquidated for $9.46 million in just a few minutes.

Mining Bitcoin now costs more than its market value, but a closer look reveals something doesn't add up.

As the U.S. elections approach, can Bitcoin break barriers to reach $100K or stumble down towards $50K?

Bitcoin's surge highlights its sensitivity to political events, suggesting potential volatility and strategic investment opportunities amid elections. The post Bitcoin surges 3% to $70,000 ahead of US election results appeared first on Crypto Briefing.

TL;DR Bitcoin mining difficulty surpassed 100T, reaching an all-time high of 101.65T. Bitcoin hashrate also set a record of 755 EH/s on a weekly average. Small miners face increased pressure from rising costs and competition. Bitcoin mining difficulty has hit an all-time high of 101.

BTC price volatility makes a snap entrance as US Presidential Election voting begins — and Bitcoin analysts have a sense of deja vu.

Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.

Semler Scientific intensifies Bitcoin acquisition strategy, holding 1,058 BTC to enhance stakeholder value amid Bitcoin's recent price surge.

Longtime crypto bull Anthony Pompliano believes that the flagship digital asset Bitcoin (BTC) is gold on steroids.

Bitcoin's price has slipped 2% just ahead of the highly anticipated 2024 U.S. presidential election, trading around $67,848 as of early Tuesday. This dip is largely attributed to whale sell offs and cash outflows from U.S. spot Bitcoin ETFs, marking a temporary setback for the leading cryptocurrency.

The cryptocurrency market edged up slightly today, showing a 0.26% increase in global market cap to $2.25 trillion, while 24-hour trading volumes grew by 13.52% to $79.83 billion. With the U.S. election drawing near, crypto investors have turned their eyes to the Trump-Harris race, influencing market sentiment and stoking volatility.

The Bitcoin mining difficulty has jumped to an all time high. It has peaked at 101.65 trillion and it is putting bitcoin miners in a very tight spot. Especially the private miners are feeling intense pressure. They have to battle against the soaring costs and stiff competition.

The company needs financing conditions to remain agreeable, and there needs to be continued investor demand for the firm's convertible debt, the report said.

Michael Saylor, cofounder and former CEO of business software company MicroStrategy, has taken to his official account on the X social media platform (formerly known as Twitter) to share yet another Bitcoin-themed message with his army of followers.

Bitcoin open interest has seen a notable decline as market volatility rises, especially with the U.S. election approaching.

Such FUD-induced trends often mark reversal points, with past patterns showing resilience following similar market uncertainty.

Bitcoin's mining difficulty hit a new record of 101.65 trillion on November 5, reflecting heightened miner activity and a 40% increase in mining difficulty for 2024.

The latest market analysis suggests that if Bitcoin's MVRV ratio continues to increase, BTC price could be in the six-figure range by 2025.

Here is a 2-minute breakdown of everything important that happened in crypto today.