Bitcoin Value Forecast: BTC Plummets 7% as Kamala Harris Cuts Trump Lead…

The US Presidential Forecast chart above is from Polymarkets, a prediction markets platform constructed on the Polygon community, that enables crypto merchants to wager on real-word occasions.

The info reveals that crypto merchants have wagered practically $2.eight billion on the elections final result, with Trump main the ‘crypto polls’ by a staggering 65.three% votes to Harris’ 34.eight% as of October 31, signaling a possible landslide victory for the Republican candidate.

However amid a last-minute resurgence, Kamala Harris quickly gained floor on Trump over the week, closing the hole to 57.7% – 42.four% on the time of publication on Nov four, barely 13 hours from the elections.

Notably, Kamala’s resurgence efficiency between Oct 31 and Nov four, has starkly coincided with Bitcoin’s on-going 5-day shedding streak. This lends credence to the narrative that the last-minute swings in US elections race contributed to BTC 6.7% weekly timeframe worth downturn.

Bitcoin Value Forecast: $65,000 Assist at Threat?

Bitcoin worth dipped by 2% throughout the each day timeframe on Nov 5, as merchants develop skittish forward of the US elections. Technical indicators counsel the bearish momentum may persist till a winner is introduced.

At the moment, Bitcoin trades beneath the Quantity Weighted Common Value (VWAP) of $67,991 and stays throughout the bearish zone of the Keltner Channel (KC) bands, indicating intense draw back threat.