Bitcoin’s price has taken a hit as the political landscape in the United States continues to shift. According to data from Polymarket, Donald Trump’s lead over Vice President Kamala Harris has weakened, causing market sentiment to change as Election Day approaches on Nov. 5.
The odds of Trump winning the election have declined from 66.9% to 54%, while Harris has seen her chances increase from 33.5% to 46.1%. This shift in momentum is also reflected in recent polls, such as the Des Moines Register/Mediacom poll, which shows Harris leading Trump in Iowa by three percentage points.
The latest developments in the presidential race have had an impact on the cryptocurrency market as well. Trump has been a vocal supporter of crypto, even accepting donations in cryptocurrency during his campaign. On the other hand, Harris has taken a more measured approach, indicating that her administration would support crypto as part of a broader economic strategy.
As the state polls and Polymarket predictions continue to fluctuate, Bitcoin’s price has dropped to $68,000. The global crypto market cap has also seen a 1.95% decrease, with Ethereum falling to the $2,400 level.
Overall, the uncertain political environment in the U.S. is causing waves in both the traditional and cryptocurrency markets. Investors will need to keep a close eye on the latest developments to navigate these turbulent times.