$68,000, iar investitorii sunt optimiști cu privire la evoluția sa ulterioară.
Bitcoin reaches over $68,000 following news about Biden
US politics still have a strong influence on the crypto market, as noted by Santiment’s latest reports. In a new post on X, the market information platform mentioned that news about Joe Biden’s rejection of Democratic representation in future US elections triggered a small immediate panic, leading to a drop in crypto prices. On Sunday, Bitcoin was trading above $67,500, and the price of the coin dropped to nearly $66,000, according to data from CoinMarketCap.
Bitcoin price
Santiment also noted that during the closing hours of Sunday, prices quickly recovered after the initial drop, reaching prices above $68,400 following news about Biden. At the time of writing this article, BTC is trading above $68,000, and investors are optimistic about its future performance.
Political Events Impacting Crypto Markets
Recent events in the political sphere have had a significant impact on the cryptocurrency markets. With assets related to Donald Trump experiencing high volatility, the market has been showing signs of instability at the beginning of this week.
A failed assassination attempt on Trump over the weekend of July 13th, under very different circumstances, also resulted in a similar pattern of price fluctuation. Just two weeks ago, digital assets linked to Trump saw intense volatility following the unfortunate event.
It seems that US politics are still closely correlated with the crypto markets. Santiment, in a recent post, highlighted that Joe Biden’s support for Kamala Harris should be seen as a signal that any news regarding her or other potential replacement candidates will be of interest and could impact the crypto markets.
Regardless of individuals’ personal interest or indifference towards US politics, the social volume of major topics continues to demonstrate the existence of fragile correlations with crypto prices, influenced by speculation.
Santiment Analysis: Political Events Impact on Crypto Market
Recent events in the political sphere have had a significant impact on the crypto market volatility. This week, the early launch of Ethereum-based ETFs in the US and the upcoming Bitcoin Conference on Thursday, where Trump is set to speak, have caused fluctuations in the market.
Despite these factors, market conditions have improved in the second half of the month. This demonstrates the close correlation between US politics and the crypto market, as highlighted by Santiment’s analysis. The withdrawal of Biden from the 2024 presidential race further emphasizes this connection.
