# Traders Bet Bitcoin Hits $80K Regardless of Election Outcome

*Author: David Christopher*
*Published: Oct 25, 2024*
*Source: https://www.bankless.com/de/traders-see-bitcoin-at-80k-regardless-of-election-outcome*

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Some traders see price rallying into the election as a sign that investors believe that a change in administration, no matter *the* administration, will be beneficial to the market, [CoinDesk](https://www.coindesk.com/markets/2024/10/23/bitcoin-is-going-to-80k-regardless-of-trump-or-harris-win-traders-say/) reports.

## What's the scoop?
- **$80K Targeted**: Open interest for calls expiring November 29 and December 27 concentrates at $80K, with a small amount of traders also eyeing $100K by year-end.
- **Options Interest as Election Hedge**: Options expiring on November 8 have the highest open interest at a $75K strike price, but [some traders see](https://www.coindesk.com/markets/2024/10/23/bitcoin-is-going-to-80k-regardless-of-trump-or-harris-win-traders-say/) these high-price options as a hedge against the election, rather than a purely bullish outlook.
- **Macro Factors**: Rate cuts starting a new easing cycle, and stock price rising, add momentum for a potential price surge.

## Bankless Take:
While bipartisan pro-crypto signals may boost optimism, this doesn’t guarantee the election will bring substantial crypto policy changes. Instead, traders are looking to rate cuts and a fresh administration as more immediate and concrete catalysts, with the call options indicating many traders expect BTC to ride a macroeconomic wave through election season. While many believe a Republican win would be more favorable, traders seem prepared for Bitcoin’s upside regardless, with onchain metrics [reinforcing a bullish outlook](https://www.bankless.com/bitcoin-mining-difficulty-hits-new-all-time-high).
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