US Elections Could Shake Crypto Markets, Warn QCP Capital Analysts
QCP Capital’s latest market update highlights the potential impact of the upcoming U.S. elections on financial markets, especially cryptocurrencies like Bitcoin (BTC).
With two weeks until the election, analysts predict heightened volatility, driven by shifting investor sentiment and price movements. Betting markets favor Donald Trump, which could lead to economic policy changes, such as increased tariffs and tax reductions, potentially boosting the U.S. dollar and bond yields.
Bitcoin is currently approaching $69,000, buoyed by a record $40.5 billion in open interest across exchanges. QCP emphasizes the significance of the upcoming Non-Farm Payrolls (NFP) report, which could influence expectations for future interest rate decisions and further shape market dynamics.
Clever Robot News Desk 24th October 2024
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