Is a Bull Market Brewing as Investments in Cryptocurrency Products Surge Reaching 22 Billion

CoinGeek reported:
Cryptocurrency investment products earned a net profit of $2.2 billion last week.
Bitcoin dominated the inflow of funds as the chances of Trump winning the US election increased.
Last week, cryptocurrency market investors faced significant risks, as indicated by the influx of funds totaling $2.2 billion.
According to CoinShares, this is the largest increase since July, highlighting the bullish sentiment that has emerged in the past few days.
The impact of Trump on BTC:
Bitcoin [BTC] accounted for nearly 99% of the weekly inflow, generating revenue of $2.13 billion and becoming the highlight of investor interest.
The impact of the substantial influx of funds is also evident in the price chart, as the world’s largest digital asset rose by nearly 10%, from $624,000 to over $69,000.
James Butterfill of CoinShares stated that the return of market optimism is related to the following factors:
Donald Trump winning the US presidential election. He said:
“We believe that this new optimism stems from increasing expectations of the Republican Party’s victory in the upcoming US elections, as people generally believe that they are more supportive of digital assets. This in turn has led to positive price momentum.”
In the background, last week, Trump’s chances of winning on the prediction website Polymarket exceeded 60% for the first time since July.
As of the time of writing, the index stands at 64%, leading Kamala Harris by 34%, with a 28-point lead.
According to Min Jung, an analyst at Presto Research, this momentum may continue in the coming weeks under two scenarios.
“If Trump’s dominance continues and the Federal Reserve signals a more moderate stance, we may see new momentum for Bitcoin in the weeks following these events.”
In other words, the strong demand for US spot BTC ETFs will also push the net assets of these products to new highs. The total assets under management (AUM) exceed $66.1 billion.
Other altcoins also show new attractiveness, with Ethereum [ETH] recording $57.5 million and Solana [SOL] mining $2.4 million.
With only about two weeks left until the US election, will the bull market momentum in the cryptocurrency market continue?
Well, cryptocurrency trading company QCP Capital, citing options data, believes that the upward trend may continue. It states, “The market is preparing for a volatile #Election: Although the trading price of #BTC is 8% lower than its peak, it still tends to be bullish, but the S&P 500 index may experience a 1.8% volatility after the election, using put options for hedging.”
This means that cryptocurrency investors are optimistic about the upside potential (buying call options), while the US stock market is concerned about a correction (buying put options).