Key points:
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
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. |
Malaysian authorities arrested seven for Malaysia Bitcoin Mining electricity theft, seizing 52 rigs; RM3.4 billion…
The Bank of Ghana (BoG) has published a set of regulations for the use of…
Australian financial regulator ASIC coordinated the removal of over 600 cryptocurrency scams last year as…
Davinci Jeremie is a notable Bitcoin software engineer and entrepreneur. Let's learn about Davinci Jeremie…
Ava Labs COO Luigi D'Onorio DeMeo's X account was hacked and used to post false…
Under the stewardship of Executive Chairman Michael Saylor, MicroStrategy Bitcoin holding yielded a 61% profit…
This website uses cookies.