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News

Trump’s Election Odds Aren’t the Key Driver of Bitcoin Prices

2 hours ago - Around 2 mins mins to read

Key points:

  • A comparison of three-day changes in BTC’s price and Republican election odds between June 1 and Aug. 15 shows no definitive correlation between the two variables.
  • A lot could change in the coming weeks, according to FalconX.
There is no strong correlation between Trump’s Election Odds and Bitcoin’s price; US monetary policy and oversupply have a greater impact on BTC.
Trump's Election Odds Aren’t the Key Driver of Bitcoin Prices

Weak Correlation Between Trump’s Election Odds and Bitcoin Prices

Trump's Election Odds Aren’t the Key Driver of Bitcoin Prices

Contrary to popular belief, FalconX’s analysis shows no clear correlation between Trump’s election odds and Bitcoin price changes from June 1 to August 15, 2024, according to Coindesk.

Despite market expectations, factors such as US monetary policy and oversupply impact BTC prices substantially during this period.

Read More: CEO of Cantor Fitzgerald, A Bitcoin Advocate, Now Leads Trump Transition Team

Crosscurrents Overshadowing Trump’s Election Odds Impact

FalconX research highlights that while Trump’s election odds were initially thought to impact Bitcoin’s price, the actual impact appears weak due to other factors, such as heavy selling by some entities and concerns about the possibility of increased supply.

As Election Day approaches, whether election news will become a more dominant driver of BTC’s price remains to be seen.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

BTC

Donald Trump

Donald Trump Election Campaign

FalconX

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Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.
News

Trump’s Election Odds Aren’t the Key Driver of Bitcoin Prices

Key points:

  • A comparison of three-day changes in BTC’s price and Republican election odds between June 1 and Aug. 15 shows no definitive correlation between the two variables.
  • A lot could change in the coming weeks, according to FalconX.
There is no strong correlation between Trump’s Election Odds and Bitcoin’s price; US monetary policy and oversupply have a greater impact on BTC.
Trump's Election Odds Aren’t the Key Driver of Bitcoin Prices

Weak Correlation Between Trump’s Election Odds and Bitcoin Prices

Trump's Election Odds Aren’t the Key Driver of Bitcoin Prices

Contrary to popular belief, FalconX’s analysis shows no clear correlation between Trump’s election odds and Bitcoin price changes from June 1 to August 15, 2024, according to Coindesk.

Despite market expectations, factors such as US monetary policy and oversupply impact BTC prices substantially during this period.

Read More: CEO of Cantor Fitzgerald, A Bitcoin Advocate, Now Leads Trump Transition Team

Crosscurrents Overshadowing Trump’s Election Odds Impact

FalconX research highlights that while Trump’s election odds were initially thought to impact Bitcoin’s price, the actual impact appears weak due to other factors, such as heavy selling by some entities and concerns about the possibility of increased supply.

As Election Day approaches, whether election news will become a more dominant driver of BTC’s price remains to be seen.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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