Bloomberg ETF analyst Eric Balchunas wrote on the X platform that BTC's sudden and instantaneous rise today may be one of the reactions to the US presidential election. Eric Balchunas added: "If anyone thinks bitcoin is not a good indicator to watch today, please tell me why. In my opinion, BTC seems to be a clean indicator because it is an issue in the campaign, stocks and bonds are less important, but I am open to other ideas."