Bitcoin falls below $68k as crypto fail ahead of us election. According to betting markets, the U.S. presidential election has become virtually a 50/50 race, down from an easy Trump victory just a few days ago. "Markets hate uncertainty," according to an ancient Wall Street adage. Just 96 hours ago, the price of bitcoin (BTC) was on the verge of breaking over its all-time high of $73,700, possibly aided by a spike in momentum for crypto-friendly Republican presidential contender Donald Trump.
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| Bitcoin Falls Below $68K |
Bitcoin Drops Below $68K
At the time, Trump's chances of winning had climbed to 67% on the betting market Polymarket (while his opponent Kamala Harris' chances had dropped to 33%). Since then, Trump's chances have dwindled, as has the price of bitcoin and cryptocurrencies in general.
Overnight, the former president's odds of victory fell to less than 53% (with Harris rising beyond 47%). Bitcoin plummeted to as low as $67,600. At press time, during the U.S. morning hours Sunday, both Trump and bitcoin had recovered slightly, with Trump at 56% and bitcoin at $68,300, down more than 2% in the previous 24 hours.
Bitcoin Drops Below $68K As Crypto Fails Ahead of The US Election
Just over 96 hours ago, the price of bitcoin (BTC) was within a few dollars of breaking through its all-time high above $73,700, maybe helped along by a spike in momentum for crypto-friendly Republican presidential contender Donald Trump.
At the time, Trump's chances of winning had climbed to 67% on the betting market Polymarket (while his opponent Kamala Harris' chances had dropped to 33%). Since then, Trump's chances have dwindled, as has the price of bitcoin and cryptocurrencies in general.
Overnight, the former president's odds of victory fell to less than 53% (with Harris rising beyond 47%). Bitcoin plummeted to as low as $67,600. At the time of writing, during the U.S. morning hours Sunday, both Trump and bitcoin had recovered slightly, with Trump at 56% and bitcoin at $68,300, down more than 2% in the previous 24 hours. The CoinDesk 20 Index is down 2.3% over the same time frame, with Cardano (ADA) and Avalance (AVAX) underperforming by over 6%.