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Bitcoin (BTC) Price Today Correlated to Rising Trump Election Odds, Analysts Say

Susan Sarandon

Oct 16, 2024 am 01:26 AM

bitcoin Trump Election Odds Crypto.ro

At the moment of writing this article, BTC is trading above $65,000, up by over 1% in the past 24 hours. Earlier, BTC's price topped $66,000

Bitcoin (BTC) Price Today Correlated to Rising Trump Election Odds, Analysts Say

Recent Key Points:

- Bitcoin price is up by over 1% in the past 24 hours, trading above $65,000.

- BTC price crossed $66,000 for the first time since last month.

- Bernstein analysts say that Bitcoin's strength is linked to Trump's rising election odds.

- MicroStrategy's stock strength is also an indicator of BTC strength, due to their Bitcoin strategy.

- Analysts also noted a shift from AI diversifiers to “pure-play” Bitcoin miners.

- Trump's odds of winning the US election are rising according to prediction markets.

- MicroStrategy's goal is to become the leading Bitcoin bank and a trillion-dollar company.

- Pure-play Bitcoin miners are expected to gain strength and catch up with AI-focused miners.

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