Around midnight Wednesday, the BTC\/USD exchange rate was at $13,530, its intraday low.<\/p>\n Biden may win the presidency in a tight contest. But Trump’s victory in Texas, Ohio, and Florida<\/a> have given Republicans a surprise lead over the Democrats. That is unsettling for Bitcoin traders, who were hoping that a new administration’s majority in the Senate would pave the way for a long-delayed coronavirus stimulus bill.<\/p>\n Earlier this year, a $2.2 trillion fiscal aid from the US government placed downward pressure on the yields<\/a> of long-term bonds and the US dollar. That prompted investors to hunt returns elsewhere, with many of them turning to an experimental hedging asset Bitcoin.<\/p>\n Bulls expected that a Biden victory would put further upward pressure on the cryptocurrency. But the election became uncertain for both the competitors. That prompted traders to wait on the sidelines instead of raising their Bitcoin bids.<\/p>\n Implied vol selling off quick in last hour as #bitcoin<\/a> trades sideways on US election (lack of) results pic.twitter.com\/Af6XWEiTYS<\/a><\/p>\n — skew (@skewdotcom) November 4, 2020<\/a><\/p><\/blockquote>\n![\"bitcoin,](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/11\/iuiKd7Xp.png?fit=860%2C860\")
<\/a>A sell-off at $14,000 crashed the Bitcoin price by almost $500. Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Volatility Dips<\/h2>\n
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