Bitcoin Surge Past $65K Linked To Rising Donald Trump Election Odds, Bernstein Says
Bitcoin’s recent rise above $65K is being driven by the increasing odds of a Donald Trump election victory, according to analysts at Bernstein. “We believe the recent bitcoin strength is being driven by the return of bitcoin’s correlation to Trump’s election odds,” Bernstein analysts said in an Oct. 15 note. Donald Trump The Favorite To Win The Election As MSTR Seen As A Corporate BTC Index Former US President Trump’s odds of winning the election currently stand at 56.5% on the decentralized betting platform, Polymarket . 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. 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. “We believe the bitcoin market strength is recent and reflective of the cur