Bitcoin’s price has reached a two-and-a-half-month high as its correlation with former U.S. President Donald Trump’s election win odds appears to be in line.
BTC’s price has risen nearly 10% over the past week, surpassing $68,200 for the first time since late July, according to data from Cointelegraph.
The rally came shortly after Trump’s lead over Vice President Kamala Harris rose to an all-time high on the leading decentralized prediction market.
Data from Polymarket showed that as of 11:41 a.m. UTC on Oct. 16, Trump’s odds of winning the presidential election were 60.2%, while Harris’ odds had slipped to 39.8%.
Interestingly, for every 1% increase in Trump’s odds of winning, Bitcoin’s price rose by $1,000.
