The post Trump’s Election Odds Shift, Affecting Crypto Market appeared on BitcoinEthereumNews.com.

Recent data from Polymarket reveals a notable decline in Donald Trump’s chances of securing the presidency, dropping by 4.5% just three days prior to the election results. This downturn appears to correlate with a significant slowdown in activity across the cryptocurrency market, encompassing Bitcoin and various altcoins. How Have Trump’s Odds Changed in Key States? Last week, Trump boasted a victory probability exceeding 60%, but by Friday night, this figure had slipped to 58.1%. Despite this fall, he maintains a substantial 16-point lead over Kamala Harris. However, Harris is gaining ground in vital states like Wisconsin and Michigan, even as Trump retains a robust advantage in states including Arizona, Pennsylvania, Nevada, and Georgia. What’s Happening with Bitcoin and Altcoin Prices? Following a peak of $73,000 earlier in the week, Bitcoin’s value has dipped below $70,000. This correction has impacted altcoins like Ethereum, Solana, and XRP. A market analyst noted that Bitcoin traders are pivoting towards leveraged futures in anticipation of the upcoming U.S. elections. Key takeaways from the current market situation include: Trump’s election odds are diminishing, causing market uncertainty. Bitcoin and altcoin prices have dropped significantly. Investors are adjusting their strategies based on the evolving political landscape. The BlackRock Bitcoin ETF has attracted over $26 billion in recent inflows. Trump’s shifting election probabilities are influencing the cryptocurrency market, leading to increased caution among traders. As volatility persists, maintaining a careful approach may prove advantageous for participants looking to navigate these tumultuous waters. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/trumps-election-odds-shift-affecting-crypto-market

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Filed under: News - @ November 2, 2024 6:23 am