Bitcoin Price Dynamics: Analyzing The Effect of Trump’s Political Agenda On Crypto Markets
25 Outubro 2024 - 2:30AM
NEWSBTC
Amid the surge in polls in favor of former President and Republican
candidate Donald Trump over Vice President Kamala Harris,
expectations for a further recovery of the Bitcoin price soared,
but the rally seen in late September and the first weeks of October
has faded, with experts attributing it to tightening financial
conditions that could affect the broader crypto market. How Trump’s
Campaign And Rising Yields Impact Bitcoin Price According to a
recent Bloomberg report, Bitcoin’s association with Trump is
becoming more pronounced as global markets react to his potential
return to the White House. Nonetheless, the financial
landscape is shifting, with rising bond yields and a strengthening
dollar coinciding with Trump’s lead in prediction markets. Experts
anticipate that a Trump victory could usher in a pro-growth
economic agenda, thereby tightening monetary policy. Related
Reading: Bitcoin MACD Turns Bullish Since 2023: Predictions Of
Cycle Top And Next Bear Market Bottom Market analysts, such as Tony
Sycamore from IG Australia Pty, emphasize that the current selloff
in stocks and a stronger US dollar and rising yields
signal tightening financial conditions. The analyst explains
that this environment is generally unfavorable for the Bitcoin
price and the broader crypto market, which tends to thrive in more
liquid market conditions. Sycamore went on to say that while
the initial monetary conditions were already loose, the speed of
the tightening poses a significant threat to the Bitcoin price and
other risk assets as the likelihood of Trump securing another term
in the Oval Office increases. Regulatory Easing Under Trump’s
Return? Trump’s campaign has openly embraced the
cryptocurrency sector, promising to position the US as the “crypto
capital of the world.” His approach starkly contrasts Harris’s more
cautious stance, which involves supporting a regulatory framework
to foster industry growth while ensuring consumer protection.
The recent Bloomberg News/Morning Consult poll reveals that Trump
and Harris are statistically tied among likely voters in key swing
states, indicating that the upcoming election could hinge on
targeted advertising, rallies, and grassroots efforts—all of which
could influence market sentiment. In the crypto market, investors
are increasingly betting on a potential victory for former
President Donald Trump on Polymarket. Current polls show Trump
leading with 62% support compared to 38% for Vice President Kamala
Harris as of Thursday, marking the largest margin since the race
began. Related Reading: XRP Price Aims to Recover: Can It
Reverse the Downtrend? Should Trump win in the upcoming election,
Bloomberg notes that experts predict a potential yield increase,
which could negatively impact risk assets, including the Bitcoin
price performance. Caroline Mauron, co-founder of Orbit
Markets, points out that while higher yields may pose challenges,
the anticipated regulatory easing under a Trump administration
could be pivotal in shaping the crypto landscape. Despite
potential economic challenges that could negatively impact BTC’s
performance, Mauron concludes that the regulatory shift could
support Bitcoin and other digital assets in regaining their
footing. At the time of writing, Bitcoin is trading at $67,670, up
2.4% over the past 24 hours. Featured image from DALL-E,
chart from TradingView.com
TRON (COIN:TRXUSD)
Gráfico Histórico do Ativo
De Set 2024 até Out 2024
TRON (COIN:TRXUSD)
Gráfico Histórico do Ativo
De Out 2023 até Out 2024