IG Strategist: US Election Results Could Pose Risks for Crypto Markets

The news headline indicates that US election results could pose a risk to crypto markets, heightening uncertainty and a cautious stance. BTC is already down 1.95% in 24 hours at 74,480 and trading below SMA20/SMA50; MACD is in negative territory and below the signal line, while RSI at 42.8 confirms weak momentum. This technical picture, combined with the risk perception created by the news, makes continued downward pressure likely in the short term. However, since the headline contains commentary rather than a concrete development, its impact may be limited. In the 1-3 day outlook, there is a slight downward bias, with a risk of accelerated selling if support is lost.

COIN is already under strong selling pressure: the last close was 134.71, down 8% in 24 hours, and the price is trading below both the SMA20 (141.26) and SMA50 (144.98). The RSI at 38.6 is weak but has not yet entered oversold territory; the MACD is negative and below the signal line, indicating downward momentum. News that US election results could pose a risk to crypto markets may feed the current weak technical picture and sustain the selling bias in the short term. However, since the news contains an uncertain and conditional statement, the impact may remain limited; therefore, confidence was kept moderate at 0.62. In the 1-3 day horizon, downward pressure is prominent, but the support zone around 130 could trigger reaction buying.