- Trump Takes a Hit, Bitcoin Dips
- Trump Debate Fumbles Hit MAGA Coin
- Trump’s Crypto Vision Ignored in Debate
The recent debate between Kamala Harris and Donald Trump sparked discussions within the crypto community. Although the candidates barely touched on tech and finance topics, traders were keenly observing their statements. The lack of crypto discussion was disappointing for many, especially given Trump’s previous promise to make the U.S. the “crypto capital of the planet.” Meanwhile, the market did not remain idle, and crypto prices swiftly reacted to the debate’s outcome.
Trump Takes a Hit, Bitcoin Dips
Bitcoin, often associated with Trump’s stance on digital assets, saw an immediate drop of over 2%, trading at around $56,330. Traders reacted negatively to the political face-off's outcome. Many in the market view Trump as a pro-crypto candidate, especially following his recent pro-digital asset statements. However, after Harris appeared to win the debate according to prediction markets, Bitcoin lost some of its appeal, and the market reflected this change.
Trump Debate Fumbles Hit MAGA Coin
Trump-themed cryptos, such as the popular MAGA coin, also felt the debate’s impact. MAGA (TRUMP) prices dropped over 10% after Polymarket data showed a 3% decrease in Trump’s chances of winning the election. The MAGA coin had previously surged earlier this year but is now down 80% from its all-time high, with the recent debate causing more selling pressure. This demonstrates how closely tied Trump’s political fortunes are with certain meme coins in the crypto space.
Trump’s Crypto Vision Ignored in Debate
Crypto enthusiasts had hoped for a discussion on digital assets, particularly given Trump’s vocal stance on the issue compared to his opponents. However, the debate skipped any mention of Bitcoin or blockchain, leaving the crypto community disappointed. Trump has promised to end the “un-American crackdown” on crypto if re-elected, while Harris has yet to make her stance clear. Nevertheless, the debate’s outcome appeared to favor Harris, with prediction markets showing her odds improving by 3%.
As the 2024 U.S. presidential election draws closer, crypto traders continue to place their bets. Platforms like Polymarket have seen significant amounts of money flowing into election-related wagers, with the crypto world closely watching every debate. Despite Harris’ performance, both candidates remain closely tied in the Polymarket contract for the election outcome, with Harris’ odds slightly improving during the debate. Harris may have taken the lead for now, but the election is far from over, and the crypto market will continue to react to each new development.
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