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.
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.
