The Joe Biden vs Donald Trump polemic makes the crypto market move mixed
NewYork – The crypto market moved sukmabola varied today, Friday (19/7/2024) along with the decline in the United States (US) stock exchange at the close of last trading as well as the polemic in the US.
Referring to CoinMarketCap on Friday (19/7/2024) at 05:29 WIB, the crypto market is moving mixed. Bitcoin weakened 0.57% to US$64,008.72 even though it was in the positive zone of 11.29% on a weekly basis.
Ethereum was in the green zone 0.66% in the last 24 hours and in a week experienced an appreciation of 10.43%.
Solana appreciated 1.85% daily and rose 16.6% in the week.
Likewise, Toncoin strengthened 1.77% in the last 24 hours while in the last seven days it weakened 0.35%.
Crypto Performance (19/7/2024)
CoinDesk Market Index (CMI), which is sukmabola an index to measure the market capitalization-weighted performance of the digital asset market, fell 0.73% to 2,517.35. Open interest appreciated 0.46% to US$62.99 billion.
Meanwhile, the fear & greed index reported by coinmarketcap.com shows the number 57, which shows that the market is in a neutral phase with the current economic conditions and crypto industry.
Quoted from coindesk.com, the crypto market fell again at the start of trading today along with the continuous decline in United States (US) stock prices and circulating speculation regarding the presidential election race.
The price action came as US stocks were unable to recover from significant losses earlier in the week, with the technology-focused Nasdaq 100 dropping another 1% and the broad-based S&P 500 shedding 0.7%.
Uncertainty about the US sukmabola presidential election has increased significantly in recent hours amid reports of increasing pressure from top party figures for President Biden not to run again.
Traders on crypto-based prediction market Polymarket now see an 80% chance of Biden resigning, up from 40% the day before. Meanwhile, Vice President Kamala Harris’ chances of being the Democratic nominee for the presidential race jumped to 63% from 15% a day earlier.
Additionally, Donald Trump’s Republican nomination odds dipped slightly on Polymarket to 65%, down from a peak of 70% after surviving an assassination attempt last weekend.
The recovery in crypto prices in the past week was driven in part by investors seeing increasing odds of a Trump victory in the presidential election, and with it a much more crypto-friendly US administration.