Republican

Donald Trump

Bitcoin

<p>Bitcoin price reached a new all-time high above $74,900 on November 6, as traders closely watch the US presidential election results. Republican candidate Donald Trump currently leads Democratic candidate Kamala Harris 109 to 198 in electoral votes, according to the Associated Press.</p> 
<p>At the start of the New York trading session, Bitcoin showed strong momentum, jumping over 3% to an intra-day high of $70,577. This surge in price follows growing “US presidential elections-related volatility” in the crypto market, sparking renewed interest among traders.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="394" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold-1024x394.jpg" alt="Bitcoin Price Hits New High Above $74,900 as Election Results Unfold" class="wp-image-212521" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold-1024x394.jpg 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold-800x308.jpg 800w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold-768x296.jpg 768w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold-860x331.jpg 860w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-New-High-Above-74900-as-Election-Results-Unfold.jpg 1112w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Price Chart | Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>Throughout 2024, many traders have remained optimistic about Bitcoin’s price potential if Trump wins the election. Both Trump and Harris have adapted their views on cryptocurrency regulation, further fueling market speculation.</p> 
<p>Bitcoin’s price movement appears to be tied to Trump’s rising odds of victory, according to decentralized prediction market Polymarket. On November 5, <a href="https://www.cryptotimes.io/2024/11/05/bitcoin-hits-70k-amidst-us-election-final-showdown/" target="_blank" rel="noreferrer noopener">Bitcoin price surged back above $70,000</a> as Trump’s chances of winning climbed above 88.6%, while Harris’ chances dropped below 12.1%.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="807" height="404" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-74800-as-Trump-Leads-Harris-in-US-Election-Battle.jpg" alt="Bitcoin Price Hits $74,800 as Trump Leads Harris in US Election Battle" class="wp-image-212522" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-74800-as-Trump-Leads-Harris-in-US-Election-Battle.jpg 807w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-74800-as-Trump-Leads-Harris-in-US-Election-Battle-800x400.jpg 800w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Price-Hits-74800-as-Trump-Leads-Harris-in-US-Election-Battle-768x384.jpg 768w" sizes="(max-width: 807px) 100vw, 807px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://polymarket.com/event/presidential-election-winner-2024/will-donald-trump-win-the-2024-us-presidential-election?tid=1730863572844" target="_blank" rel="noreferrer noopener nofollow">Polymarket</a>
  </figcaption>
 </figure>
</div> 
<p>While Bitcoin has reached record highs, volatility is expected to continue. On November 4, Bitcoin ETFs saw significant outflows, with $541.1 million leaving funds like Fidelity, ArkInvest, and Grayscale.&nbsp;</p> 
<p>Meanwhile, BlackRock’s IBIT saw $38.3 million in inflows. This market uncertainty is further reflected in the Bitcoin options market, where traders are taking protective measures, as noted by Tony Stewart of Pelion Capital.</p> 
<p>Traders will keep a close eye on the election’s outcome, as Bitcoin’s price remains sensitive to shifting political and economic factors.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/11/05/kamala-harris-coin-surges-by-100-as-us-votes-for-next-president/" target="_blank" rel="noreferrer noopener">Kamala Harris Coin Surges by 100% as US Votes for Next President</a></p> 
</blockquote>

Bitcoin Price Hits $74,900 as Trump Leads Harris in Election Race

The Crypto Times

Other articles published on Nov 6, 2024

Donald Trump Wins 2024 US Election: Crypto Voters Play a Key Role in Victory

TRON DAO Joins Chainlink SCALE, Adopts Chainlink Data Feeds for DeFi Ecosystem

Arthur Hayes: 2024 Election Will Have Little Impact on Crypto Markets

BNB Chain Launches Tokenization Solution to Empower SBOs Onboarding Web3

Trump’s Victory, A Jackpot For Dogecoin Crypto?

Standard Chartered and Ant International Enable 24/7 Blockchain Liquidity Transfers

Join our free newsletter for daily crypto updates!