NAIROBI (CoinChapter.com) — Crypto markets rallied as Donald Trump emerged victorious in the U.S. presidential election. Trump’s crypto-friendly stance has fueled optimism in digital assets, with major tokens responding to expectations of regulatory changes. Kamala Harris, with 224 electoral votes and 64.29 million votes (47.4%), has not outlined a clear crypto policy.
Ethereum Targets $10,000 Amid Trump-Driven Optimism
Analyst Ali Martinez predicts Ethereum could reach $10,000, projecting a potential tripling in value by following a pattern seen in the S&P 500. If his prediction holds, Ethereum would jump 311%, hitting an all-time high.
Other analysts remain cautious. CoinCodex projects Ethereum will stay near $2,500 in Nov., ending the month at $2,516. Changelly estimates ETH could hit $10,123, but not until 2028, indicating a slower path than Martinez’s target.
Ethereum Investors De-Risk Ahead of U.S. Election Results
With the U.S. presidential election counting underway, Ethereum traders are showing caution. Exchange reserves jumped by 220,000 ETH since Oct. 31, equivalent to $540 million, signaling increased selling pressure, according to CryptoQuant data.
ETF activity shows a similar trend. Nov. 4 recorded $63.2 million in net outflows, the highest since September, with Grayscale’s Ethereum Mini Trust and Fidelity’s Ethereum Fund leading these outflows. Meanwhile, BlackRock’s iShares Ethereum Trust saw a modest $11 million inflow.
ETH/BTC Ratio Hits Three-Year Low
Ethereum’s strength against Bitcoin (ETH/BTC) dropped to 0.035 on Nov. 5, the lowest since March 2021.
Crypto analyst Zach Voell expressed doubts about a reversal, while CryptoQuant contributor Amr Taha flagged recent inflows of 82,000 ETH ($200 million) into derivatives exchanges, which could signal increased price volatility.
Historical data shows that after a similar low in March 2021, the ETH/BTC ratio surged to 0.077 within two months, coinciding with a 120% rally in Ethereum’s price. While some traders remain optimistic, others suggest Ether’s weaker performance may continue, especially if Bitcoin rallies in response to the election outcome.
Crypto analyst Ted Pillows expects Ethereum’s ETH/BTC ratio to bottom out between 0.032 and 0.034, with a rebound likely by early 2025. He suggests this shift could kick off a new “altseason.”
Republican candidate Donald Trump has promised a more crypto-friendly U.S., while Democratic candidate Kamala Harris has yet to outline her stance on digital assets. Bitfinex analysts expect post-election volatility, which could drive price swings in Bitcoin and Ethereum.
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