Risk Assets Strengthen on Election Day

Risk assets, including cryptocurrencies and U.S. stocks, are experiencing growth as Americans vote today to elect a new president and determine the composition of Congress.

Bitcoin (BTC) rose above $70,000 this morning on U.S. markets, marking a 2.4% increase in the last 24 hours. The broader CoinDesk 20 index gained 1.6% over the same period, while ether (ETH) continued to lag behind bitcoin. The ETH/BTC ratio dropped to 0.03526, its weakest level since April 2021.

Crypto-Related Stocks Also See Gains

Stocks associated with cryptocurrencies have shown positive movement. Semler Scientific, which released its third-quarter results on Monday evening, rose by 26% after announcing further bitcoin purchases and reaffirming its commitment to a bitcoin management strategy similar to that of Michael Saylor’s MicroStrategy (MSTR). MSTR shares opened the trading day with a 7.5% gain.

Bitcoin miners such as Marathon Digital (MARA), Riot Platforms (RIOT), and Hut 8 (HUT) saw growth ranging from 3% to 5%. Coinbase (COIN) shares rose by 3%, though they remain about 10% lower over the past few days following disappointing third-quarter earnings.

Traditional Markets Are Also on the Rise

In traditional markets, the Nasdaq was up by more than 1%, and the S&P 500 gained 0.8%. Gold and oil were slightly in the green, while the yield on 10-year U.S. Treasury bonds rose by seven basis points to 4.36%.

Polls Show a Tight Race in the U.S. Elections

Polls continue to indicate a close race, not only for the U.S. presidency but also for control of the House of Representatives and the Senate. The betting market Polymarket, after several volatile days, now gives Donald Trump a 62% chance of winning compared to 38% for Kamala Harris. The likelihood of a Republican sweep (winning the presidency, House, and Senate) is currently 39%, while the chance of a similar Democratic sweep is 16%.

#bitcoin☀️ , #donaldtrump , #kamalaHarris , #BTC☀ , #CryptoNewss


Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“