Jamie Crawley is a CoinDesk news reporter based in London.
BTC fell to $59,000 following a U.S. CPI report that showed hotter-than-expected inflation in September, seemingly putting paid to hopes of another 50 basis-point interest-rate cut by the Fed next month. The bounce left BTC about 0.25% higher than 24 hours ago. The broader digital asset market showed stronger gains of 1.65%, as measured by the CoinDesk 20 Index. XRP and DOGE led the way, adding around 2.5% and 2% respectively.
Traders are giving the former president a 55.8% shot versus Vice President Kamala Harris' 43.8% on the prediction market site, where more than $1.6 billion has been wagered on the November election. Trump's chances have risen to levels last seen days after President Joe Biden said he wouldn't seek reelection, clearing the way for Harris to take over. Another prediction market, Kalshi, which just recently won permission to list contracts based on U.S.
The chart shows bitcoin's price performance months after 2012, 2016 and 2020 U.S. presidential elections."Past U.S. election events have aligned well with both Bitcoin Halving events and U.S. business cycle troughs, which are likely the main factors behind Bitcoin's stellar performance over the past 3 election cycles in 2012, 2016 and 2020. We have a similar alignment in this cycle," analysts at ETC Group said in a report..
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