{"id":587615,"date":"2024-10-15T14:57:01","date_gmt":"2024-10-15T14:57:01","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=587615"},"modified":"2024-10-15T14:57:01","modified_gmt":"2024-10-15T14:57:01","slug":"bitcoin-surge-past-65k-linked-to-rising-donald-trump-election-odds-bernstein-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-surge-past-65k-linked-to-rising-donald-trump-election-odds-bernstein-says","title":{"rendered":"Bitcoin Surge Past $65K Linked To Rising Donald Trump Election Odds, Bernstein Says"},"content":{"rendered":"

Bitcoin’s recent rise above $65K is being driven by the increasing odds of a Donald Trump election victory, according to analysts at Bernstein.<\/p>\n

“We believe the recent <\/span>bitcoin<\/span><\/a> strength is being driven by the return of bitcoin’s correlation to Trump’s election odds,” Bernstein analysts said in an Oct. 15 note.<\/span><\/p>\n

\"Trump's<\/p>\n

Donald Trump The Favorite To Win The Election As MSTR Seen As A Corporate BTC Index<\/span><\/h2>\n

Former US President Trump’s odds of winning the election currently stand at 56.5% on the decentralized betting platform, <\/span>Polymarket<\/span><\/a>. Meanwhile, his political rival and current US Vice President Kamala Harris has a 43% chance, according to bettors on the platform. Trump also has the lead in five of the six swing states.<\/span><\/p>\n

The US-regulated Kalshi shows that Trump leads Harris as well. Odds in favor of Trump currently stand at 55% after a 2% increase, while bets for Harris place her chances at 45% following a 1% decrease. <\/span><\/p>\n

“We believe the bitcoin market strength is recent and reflective of the current spike in Trump odds,” the Bernstein analysts wrote. <\/span><\/p>\n

Donald Trump Polling Odds Impact Crypto Fund Flows<\/span><\/h2>\n

Trump’s rising odds have also had a positive impact on crypto fund flows in the last week, according to CoinShares. During the week from Oct. 5-11, digital asset investment products posted inflows of $407 million. <\/span><\/p>\n

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📈 Digital asset investment products saw inflows of US$407m, #Bitcoin<\/a> saw inflows totalling US$419m while blockchain equity ETFs saw one of the largest weekly inflows of the year, totalling US$34m.<\/p>\n

Get our insights in our full report: https:\/\/t.co\/3Bz2pA1HOQ<\/a> pic.twitter.com\/kvkSHAqIHo<\/a><\/p>\n

— CoinShares (@CoinSharesCo) October 14, 2024<\/a><\/p><\/blockquote>\n