According to the current Polymarket presidential election odds, Donald Trump is favored to win the election at 65.5%.
Kamala Harris news
Bitcoin’s shallow pullback shows buyers are not rushing to the exit and increases the likelihood of a rebound to new all-time highs. Will altcoins follow?
“Bitcoin is currently being used as a liquid proxy to hedge a Trump win,” which was previously seen as “underpriced,” according to an analyst.
While Donald Trump has been associated with broad support from the crypto community, many people in crypto have endorsed Kamala Harris as well.
Crypto analysts suggest a Trump victory could give the crypto market a “dopamine hit,” but with considerable volatility already priced in, traders should remain cautious.
In an open letter to Donald Trump and Kamala Harris, Charles Cascarilla highlighted the role of stablecoins in maintaining the US dollar’s global dominance and improving banking efficiency.
Competition is heating up among election betting platforms, with crypto-native Polymarket still strongly in the lead.
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
Polymarket whales are betting tens of millions of dollars on a Trump victory on Nov. 5, which could be more accurate than traditional polls, according to Elon Musk.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.