As expected, the Bitcoin and crypto frenzy will occur hours after Republican Donald Trump’s election. Crypto has turn into an election issue, with Trump offering a more friendly policy tone than his rival, Kamala Harris, who conceded to Trump’s victory, yesterday. Bitcoin surged by 8% throughout the early hours of trading, topping $75,000, higher than its March record. That is just the beginning of a Bitcoin price surge for a lot of market analysts. 

In response to Ki Young Ju, CryptoQuant’s CEO, Bitcoin’s price can still increase within the short term, with as much as 40% upside. Based on today’s Bitcoin price range, it’s now a part of the Top 10 largest financial assets by market cap. Nonetheless, Young Ju cautions holders to turn into realistic within the short term and recommends gradual selling as “max pain” eases.

Bitcoin hits a recent ATH. Source: Bitstamp

Crypto Market Sees ‘Easing Period,’ Setting Up For A Price Surge

Now that the election fever has settled, market analysts and observers concentrate on Bitcoin and crypto’s cyclical nature. In response to Ki Young Ju, BTC holders’ behavior often coincides with the asset’s cyclical nature. He shared that recent holders often endure price breakdowns during bear months, only to find these assets change hands two years after the “max pain” has subsided.

Latest investors often hold $BTC through bear markets, enduring losses.

After about two years, it changes hands when pain eases. That point is now.

It could go up +30-40% from here, but not just like the +368% we saw from $16K. Time to think about gradual selling, not all-in buying, imo. pic.twitter.com/hXRT6YBsxS

— Ki Young Ju (@ki_young_ju) November 6, 2024

In a Twitter/X post, Ju added that the assets’ “changing of hands and easing of pain” occur now. From here, the CEO projects the worth to surge by 30 and even 40%. Nonetheless, he cautioned the holders that today’s market differs from when BTC jumped by 368% and traded at $16k. For Ju, the perfect strategy is to sell the asset step by step and never adopt an all-in buying strategy.

BTCUSD trading at $78,077 on the each day chart: TradingView.com

Bitcoin Technicals Tell A Bullish Short-Term Story

Holders and crypto investors may use Bitcoin’s technical data for more insights. Based on TradingView data, BTC’s price is approaching the upper Bollinger Band, indicating a bullish momentum. But when these bands expand, holders and trades can expect higher volatility.

Also, the asset’s Relative Strength Index (RSI) is 63, suggesting upward momentum. Bitcoin’s RSI dropped to 56% three days before the US elections, representing a balanced market. A neutral RSI rating signifies that price motion is regular, with no significant decline, increase, or period of consolidation. But two days after the elections, it’s now as much as 63, indicating a bullish sentiment but not yet overbought.

Staking Platforms Profit From Positive Price Motion

Along with holders and investors, staking platforms profit from Bitcoin’s recent price motion. For instance, Solv Protocol, a number one BTC staking platform, hit over $2 billion in Total Value Locked (TVL). DeFiLlama reports that roughly 30k Bitcoins are staked on Solv Protocol, a rise from 16,340 tokens listed in mid-October. Solv Protocol’s increased activities across blockchains coincide with Bitcoin’s recent price motion.

Among the many products available at Solv Protocol, SolvBTC is arguably the preferred, locking almost $1.11 billion in value. The rise in activities at Solv Protocol highlights the growing importance of staking in generating more yield within the face of erratic price motion.

Featured image from DALL-E, chart from TradingView