CryptoQuant has reported that there is a lower number of Bitcoins flowing into centralized cryptocurrency trading platforms today, compared to previous U.S. election days. This could suggest lower selling pressure around election activities. Julio Moreno, director of research at CryptoQuant, stated that the daily Bitcoin inflows to trading platforms are currently around 45,000 Bitcoins, which is less than the peak of 95,000 Bitcoins in March 2024 and 73,000 Bitcoins before the 2020 US presidential election.
He also mentioned that Bitcoin’s relative strength against altcoins indicates investor preference for Bitcoin over other assets, especially during market uncertainty.
