2024

Wednesday

Bitcoin

Bitcoin surged by 4% back to $61,550 on Wednesday as speculation grew that Robert F. Kennedy Jr. may soon exit the 2024 U.S. Presidential race to endorse Donald Trump.
The news has re-established Trump as a betting favorite to win the November election, which is thought by analysts to have major implications for Bitcoin’s short-term price movements.
<ul>
 <li>As reported by <a href="https://abcnews.go.com/US/rfk-jr-plans-drop-presidential-race-end-week/story?id=113028999" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">ABC News</a>, RFK Jr. will drop out by the end of the week, with sources saying he will endorse Trump. When contacted directly, RFK did not confirm or deny the rumor.</li>
 <li>This comes after Kennedy’s running mate Nicole Shanahan <a href="https://www.npr.org/2024/08/21/nx-s1-5084085/nicole-shanahan-rfk-jr-trump" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">hinted</a> in a recent podcast appearance that he and Kennedy have a difficult decision to make as to whether or not they should put their efforts behind Trump.</li>
 <li>According to Polymarket, crypto bettors now believe RFK is 97% likely to dropout of the race before November. They also view Trump as 52% likely to win the November election, versus <a href="https://cryptopotato.com/does-harris-want-to-tax-your-unrealized-bitcoin-gains-heres-whats-going-on/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kamala Harris</a> at 47%.</li>
 <li>Late Tuesday, Alex Jones of Info Wars also <a href="https://x.com/RealAlexJones/status/1826080095116628191" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">reported</a> that RFK would soon endorse Trump, and might be in consideration for various cabinet positions under Trump’s administration.</li>
 <li>According to FiveThirtyEight, Harris has a 2.8% lead on Trump in national polls. Kennedy, meanwhile, is polling at 4.9% nationally, meaning his share of voters could swing the election’s result.</li>
 <li>The price move in response has culminated in $104 million in crypto liquidations within the past 24 hours, <a href="https://www.coinglass.com/LiquidationData" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a> shows.</li>
</ul>
The post <a href="https://cryptopotato.com/trump-trade-bitcoin-pops-4-on-rumors-of-upcoming-rfk-dropout/" rel="noopener noreferrer nofollow">Trump Trade: Bitcoin Pops 4% On Rumors Of Upcoming RFK Dropout</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Trump Trade: Bitcoin Pops 4% On Rumors Of Upcoming RFK Dropout

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