Bitcoin Again Enters The $70K Mark, Stocks Go Up Amidst US Election Enthusiasm

Share This Post

Bitcoin Ethereum and Solana

The post Bitcoin Again Enters The $70K Mark, Stocks Go Up Amidst US Election Enthusiasm appeared first on Coinpedia Fintech News

As the U.S. heads into one of its most anticipated elections, Bitcoin has yet again hit the $70,000 mark, up 2.4% in the past 24 hours, driven by a wave of enthusiasm and speculation over the election outcome. Notably, Donald Trump is leading in polls with a 62.9% chance of victory over Kamala Harris at 37.2%.

Crypto Linked Stocks Also Rise

Crypto-linked stocks were also on the go, recording movements. MSTR also was higher by 7.5% in early trading. Semler Scientific which reported its Q3 results Monday night was also higher by 26% as it disclosed additional bitcoin purchases and restated its commitment to a bitcoin stockpiling strategy similar to that of Michael Saylor’s MicroStrategy (MSTR). 

Recently roughed-up bitcoin miners like Marathon Digital (MARA), Riot Platforms (RIOT),  and Hut 8 (HUT) also recorded gains in the 3%-5% range. Coinbase (COIN) was higher by 3%, though remains lower by about 10% over the past few sessions following a disappointing Q3 earnings report.

Coming to traditional markets, the Nasdaq was higher by more than 1% and the S&P 500 advanced 0.8%. Gold and oil were also in the green and the 10-year U.S. treasury yield was up seven basis points to 4.36%.

Polymarket Again Shows Increased Odds For Trump

After a lot of volatility in the past few days, Polymarket is again showing higher odds for a Trump victory currently at 62% versus a Kamala Harris win at 38%. The odds for a Republican sweep — the presidency, the House, and the Senate — are at 39%, while the odds of a Democrat sweep are at 16%.

Notably, the Bitcoin price surge is linked to Trump’s potential win, as many investors and community members view that his policies could give long-term growth for the crypto market and clear the regulatory hindrances. Trump’s lead in the polls has infused confidence among conservative investors, which has further propelled Bitcoin’s price.

Analysts forecast a 10% move in either direction, so if the price goes to the upside, investors may witness a new all-time high in BTC price, moving above the $75K mark. Moreover, the RSI is also heading in an upward direction indicating bullish moves.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1?

The post Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1 appeared first on Coinpedia Fintech News Story Highlights The price of Dogecoin today is Dogecoin price may reach a

Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2?

The post Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2 appeared first on Coinpedia Fintech News Story Highlights The live price of the Cardano token is ADA coin price could

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

The post Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next appeared first on Coinpedia Fintech News Story Highlights Solana Price Today is Solana price could reach a

Crypto.com Expands UAE Footprint With License to Offer Derivatives

Cryptocom has received a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivative products such as futures and perpetual swaps, marking a major step forward

Binance Coin Price Prediction 2025, 2026 – 2030: Will BNB Hit $1000?

The post Binance Coin Price Prediction 2025, 2026 – 2030: Will BNB Hit $1000 appeared first on Coinpedia Fintech News Story Highlights Binance Coin Price Today is The BNB price prediction

Vermont withdraws action against Coinbase, awaits SEC’s regulatory clarity

Vermont has officially withdrawn its legal action against Coinbase, which accused the crypto exchange of offering unregistered securities through its staking program In a court filing on March 13,