{"id":141147,"date":"2024-11-01T16:00:31","date_gmt":"2024-11-01T14:00:31","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141147"},"modified":"2024-11-01T15:33:30","modified_gmt":"2024-11-01T13:33:30","slug":"here-is-why-bitcoins-price-dropped-today-according-to-an-analyst","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/here-is-why-bitcoins-price-dropped-today-according-to-an-analyst\/","title":{"rendered":"Here is Why Bitcoin&#8217;s Price Dropped Today, According to an Analyst"},"content":{"rendered":"<p>This drop coincides with a tightening race between Donald Trump and Kamala Harris in the betting markets, where users on platforms like PredictIt, Polymarket, and Kalshi wager on the outcome of the U.S. presidential election.<\/p>\n<p>Sean Farrell, the head of digital asset strategy at Fundstrat Global Advisors LLC, <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-01\/bitcoin-btc-record-attempt-falters-as-trump-election-odds-dip\" rel=\"nofollow\">discussed<\/a> <\/strong>this trend with Bloomberg, attributing <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s<\/a> <\/strong>decrease to a shift in the likelihood of Trump\u2019s election win as reflected in the betting odds. He remarked that the weakening bullish sentiment surrounding Bitcoin is closely linked to Trump\u2019s diminishing prospects in these markets.<\/p>\n<p>Farrell explained, \u201cBitcoin\u2019s upward momentum appears to be faltering as the chances of pro-crypto candidate Donald Trump securing the presidency have lessened, leading investors to reassess their positions in Bitcoin.\u201d<\/p>\n[readmoer id=\u201d141029\u2033]\n<p>Farrell cautioned that prediction markets can be susceptible to manipulation, indicating that Trump\u2019s lead over Harris has decreased significantly, with Polymarket currently placing his odds of winning at 61.5%, compared to Harris\u2019 38.5%.<\/p>\n<p>Additionally, Ed Yardeni from Yardeni Research offered his insights, suggesting that a potential Trump victory could lead to a \u201cbuy the rumor, sell the news\u201d scenario for Bitcoin. He stated, \u201cIf Harris emerges victorious, Bitcoin is likely to drop, but the reaction to a Trump presidency remains uncertain. While Bitcoin may continue to rise, given its substantial gains this year, it could also experience a decline as part of this classic market behavior.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin, the leading cryptocurrency, dipped below $69,000 in Asia today, marking a 4% decline from its recent one-month peak.<\/p>\n","protected":false},"author":3,"featured_media":90251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[72,424,234,122],"coin_category":[],"class_list":["post-141147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-crypto","tag-donald-trump","tag-trump"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Here is Why 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