crypto

Toby Bochan11/4/24

Bitcoin price falls as polls and prediction markets lower Trump’s odds

The day before the US election, prediction markets have narrowed their odds, with CoinDesk reporting that Polymarket had dropped the odds of a Trump victory to as low as 53% overnight on Saturday — it had been as high as 67% earlier last week. Rival market Kalshi had the odds narrow even further, with the two candidates nearly dead even in the wee hours of Saturday night.

bitcoin price fell from a near record-high on Tuesday to under $68,000 over the weekend. The crypto’s value seems to be highly correlated with the former president’s numbers, with one analyst noting on X, "Maybe it really is as simple as: • Trump win = $BTC pump • Kamala win = $BTC dump.”

As of writing, Trump has regained some of the market’s confidence, with Polymarket giving him 59.6% odds and Kalshi putting Trump’s chances at 57%, but bitcoin is still struggling to recover and break back through $69,000.

0.00%

Today

Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election

Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election

bitcoin price fell from a near record-high on Tuesday to under $68,000 over the weekend. The crypto’s value seems to be highly correlated with the former president’s numbers, with one analyst noting on X, "Maybe it really is as simple as: • Trump win = $BTC pump • Kamala win = $BTC dump.”

As of writing, Trump has regained some of the market’s confidence, with Polymarket giving him 59.6% odds and Kalshi putting Trump’s chances at 57%, but bitcoin is still struggling to recover and break back through $69,000.

0.00%

Today

More Crypto

crypto

Yaël Bizouati-Kennedy15h

Bitcoin drops to lowest level since day after Trump’s election win

Bitcoin dropped to its lowest level since November 6, 2024, the day after the US presidential election, when it had been in ascendance amid unbridled enthusiasm about the incoming “crypto president.”

While the asset had a quick rebound from the weekend bloodbath, it is now down 2.2% in the past hour, which has brought the price below its lows seen in the sessions following the announcement of reciprocal tariffs on “Liberation Day” in April 2025.

It briefly broke below $74,000 and, according to Bernstein analyst Gautam Chhugani, could still “bottom out” in the $60,000 levels.

Several experts said bitcoin was in the throes of a bear market, including Bitwise CIO Matt Hougan, who nevertheless said it was “close to an end.”

Bitfinex analysts said that the broader flow picture suggests a clear risk-off rotation, with investors reallocating toward cash and gold amid rising macroeconomic and political uncertainty.

“In this environment, the lack of ETF absorption has amplified downside volatility, reinforcing the importance of institutional spot demand as a stabilizing force during periods of market stress,” they said.

crypto

Sage D. Young16h

Standard Chartered predicts solana will more than double in price by end of year

The price of solana is trading at $100, a nearly two-year low, but Standard Chartered forecasts that the token will climb to $250 by the end of 2026.

Geoff Kendrick, the bank’s global head of digital asset research, pointed to flows on decentralized exchanges on solana beginning to shift from meme coins to solana-stablecoin pairs, aided by AI-driven micropayments.

“AI-driven micropayments using stablecoins are starting to demonstrate that the ‘order of magnitude’ cost reduction on solana can enable entirely new markets (in this case micropayments) to develop,” Kendrick wrote in a Tuesday note.

Market-implied probabilities derived from event contracts show that investors think there’s a 30% chance the token will go lower than $40 in 2026. On the bullish side, traders are pricing in a 41% chance it will climb higher that $200 in the same period.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Even though the firm expects solana to trade significantly higher by the end of the year, the firm lowered its initial forecast of $310 and predicts the token will underperform ethereum in the next two years.

“Beyond that, if it achieves sufficient scale, we think SOL will be due for a catch-up as this new market takes shape,” Kendrick said.

On a longer horizon, Standard Chartered predicts the token will climb to $2,000 by 2030.

Yaël Bizouati-Kennedy

Bernstein analyst says bitcoin could bottom out at $60,000, but expects its “most consequential cycle” after that

“This is not a ‘bull market correction’ or ‘a dip.’ It is a full-bore, 2022-like, Leonardo-DiCaprio-in-The-Revenant-style crypto winter,” Bitwise CIO Matt Hougan wrote.

Guy with bitcoin on eye

BitMine acquires more ethereum despite being underwater amid token’s price decline

CEO Tom Lee believes “the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

Scuba diver

Yaël Bizouati-Kennedy

February outlook

Bitcoin steadies after weekend bloodbath saw price dip below $75,000

One expert warned if bitcoin breaks through a key support level of $73,000, the price could drop “below $60,000 by the end of February.”

bitcoin?

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2026 Sherwood Media, LLC