This may be the main reason for the current market decline. As we are so close to the US presidential election, it is very unlikely that we will see bullish movement in Bitcoin during this period, especially until the results of election come out. Such messages have already reached investors. Everyone will try to wait slowly during this time. But I think after selecting president, it will definitely accelerate even more than its previous speed. Since no one has the ability to regulate Bitcoin, any government come to the power bitcoin will be bullish. If any one of the two candidate support Bitcoin, there might be bullish movement in Bitcoin in the short time, but for a little longer, Bitcoin will move at its own pace. 2025 could be a great year for Bitcoin in all aspects. All in all I would say that those who hold Bitcoin will be successful in the upcoming bull run.
US presidential election "should not" have any impact on the price but I would not be shocked if there is one. Looking at the price last bull run we can see that the price did go up after the election, meaning that there was something about it, but there wasn't one in 2016 so I can't say exactly if that works, so far we have one that didn't happen and one that did. I believe we are going to end up with a good increase yet again after the election, but because of halving and expected bull run, not because of elections.
The only thing that would change could be people would be more willing to invest since they know the result and they know what to expect as well. Plus, if Trump wins, the price will likely go up a lot more in celebration, you may like him or hate him but he is a probitcoin person and price could go up because of this as well. People will see future of bitcoin bright with him, and because of that people could invest into it.