Bitcoin hits a new all time high as Trump leads the presidential polls against Vice President Kamala Harris, triggering other cryptocurrencies to also rally.
Bitcoin (BTC) has reached a new all-time high of $74,504 as Donald Trump’s chances of winning the presidency increase on betting platforms.
According to the online betting site Polymarket, Trump now has a 92.2% likelihood of winning the election.
As of this report, NBC News indicates that Trump has secured 230 electoral votes, while Kamala Harris has obtained 185.
Meanwhile, AP is displaying Trump with 230 electoral votes and Harris with 205.
To win the presidency, a candidate needs a total of 270 electoral votes.
Attention is focused on the key battleground state of Pennsylvania, where Trump currently holds a lead of about 100,000 votes, with 67% of the votes counted.
At the time of writing, Bitcoin is priced at $74,543, reflecting a 9.16% increase over the past 24 hours.
Solana (SOL) is up more than 15% to $184.31.
Ethereum (ETH) is up more than 6% to $2,573.44.
The US election is going to have a significant impact on how the crypto market moves, especially this following week.
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Also Read: How Macroeconomics and Monetary Policy Shape Bitcoin in 2024
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