America

Donald Trump

Joe Biden

President Donald Trump

QCP Capital analysts said U.S. election news will continue to induce crypto market volatility as the presidential result will shape the future of digital assets in America and, perhaps, globally.&nbsp; 
QCP Capital’s Monday <a href="https://t.me/QCPbroadcast/1275" target="_blank" rel="">report</a> price movements following the failed assassination attempt on former U.S. President Donald Trump as an example of the election’s impact on digital assets.&nbsp; As crypto.news previously noted, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and the broader virtual currency market experienced an <a href="https://crypto.news/polymarket-failed-assassination-boosts-trumps-victory-odds-to-71/" target="_blank" rel="noreferrer noopener">uptick</a> in value after the event in Pennsylvania on July 13. 
Data shows that the total crypto market gained over 10% the following week, and Bitcoin recently reclaimed $68,000.&nbsp;News of President Joe Biden’s <a href="https://crypto.news/joe-biden-quits-campaign-what-it-means-for-crypto/">exit</a> from the race also rocked markets. Bitcoin dropped by nearly $1,000 over the weekend before regaining strength and climbing back above $67,500. 
According to QCP Capital, the Nashville Bitcoin conference could be the next event to trigger price swings. Trump is expected to speak at the gathering, and there are rumors he might <a href="https://crypto.news/will-trump-create-a-us-bitcoin-strategic-reserve/" target="_blank" rel="noreferrer noopener">promise</a> a strategic national Bitcoin reserve. 
 You might also like: <a href="https://crypto.news/joe-biden-quits-campaign-what-it-means-for-crypto/"> Joe Biden quits campaign: What it means for crypto </a> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14286344"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/BTCUSD_2024-07-22_15-28-12.png.webp"> 
 <img loading="lazy" decoding="async" width="2129" height="1225" src="https://crypto.news/app/uploads/2024/07/BTCUSD_2024-07-22_15-28-12.png" alt="US elections to keep driving crypto volatility: report - 17"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC price chart | Source: <a href="https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="">TradingView</a>
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="crypto-options-market">Crypto options market</h2> 
QCP analysts added that volatility has also swept through digital asset options markets due to uncertainties surrounding the presidential election outcome.&nbsp; 
“Prices for out-of-the-money options have increased significantly in the past 24 hours, indicating expectations for more extreme market movements,” analysts noted. 
Volatility may be thick in the market, but the firm predicted that upside movements are likely. Anticipated Federal Reserve rate cuts and a pro-crypto U.S. election result were suggested as reasons for price increments.&nbsp; 
 Read more: <a href="https://crypto.news/kamala-harris-vp-picks-and-their-potential-impact-on-crypto/"> Kamala Harris’ VP picks and their potential impact on crypto </a>

US elections to keep driving crypto volatility: report

Table of Contents

crypto.news

Other articles published on Jul 22, 2024

BNB Chain Burns $970M in Latest Token Event

Empowering the Future: Bybit Web3 and Bybit Learn Launch Writing Contest to Spotlight Youth Voice...

Chainlink to $20, when? Why analysts are positive about LINK’s future

Why People Hate Crypto Now?

Kamala Harris-Inspired KAMA Meme Coin Explodes 1,500% In 3 Weeks, Flips Biden-Themed BODEN Coin

Mt. Bitcoin (BTC) Activity is Experiencing in Gox Wallets! Will New Transfers Come?

Join our free newsletter for daily crypto updates!