Donald Trump's winning odds on the leading betting market have sharply decreased, with some calling it manipulation.
Currently, Donald Trump and Kamala Harris are the two leading candidates for the US presidency. Both express support for cryptocurrency, but Trump has shown particular enthusiasm for Bitcoin and the crypto sector in his campaign events, and he has also received support from Dogecoin fans, including Elon Musk.
The latest data from Polymarket shows that Trump's winning odds have decreased from a peak of 67% on October 30 to 58.1% on November 2, while Harris's odds have increased from 34.4% to 41.1%. A Washington Post survey also shows their support is nearly equal in the crucial state of Pennsylvania as the election approaches.
Polymarket shows that Trump's winning odds have decreased since peaking at 67% on October 30, dropping to 58.1% on November 2, while Harris's odds have increased from a low of 34.4% to 41.1%. A Washington Post survey shows that in the final days, the support for Harris and Trump...
This indicates strong support for both candidates, leading to a tight competition. With the election date set for November 5, market sentiment volatility is increasing.
Recently, a report revealed that a Frenchman, not directly related to the US election, bet $38 million on Trump. If Trump wins, he could receive over $80 million; if not, he will lose most of the bet amount.
Bitcoin price movement
In the past two days, Bitcoin prices have shown volatility around the $69k level. Many cryptocurrency analysts suggest that the Bitcoin market has experienced significant outflows due to the sudden drop in Trump's winning odds.
The current trading price of Bitcoin is $69,732, up 0.72% in the last 24 hours.
Although the price seems relatively stable, notable volatility has occurred and a large amount of capital has been withdrawn from the BTC market.
On November 1, Bitcoin ETFs witnessed a net outflow of $54.94 million, marking the first outflow after seven days of inflows. Ethereum ETFs also experienced a net outflow of $10.93 million.
The Bitcoin ETF saw a total net outflow of $54.9403 million on November 1, marking the first net outflow after seven days of inflows. The Ethereum ETF experienced a total net outflow of $10.9256 million.
