[Polymarket’s US election-related user activity hits weekly all-time high]
Bitcoin prices fell during the U.S. presidential debate, with traders predicting a breakout for the crypto market in October.
Polymarket's U.S. election-related user activity hit a weekly all-time high of 72.8%. The previous high for this record was on July 15, when it was 70.7%.
After the debate, both Vice President Harris and former President Trump had 49% odds of winning on Polymarket. Harris was leading by 1% at one point, but Trump still led with $133 million in bets. Harris was backed by more than $116 million in bets.
With no mention of cryptocurrencies in the debate, Bitcoin prices fell 3% during the period and are now back down 0.8%, not too volatile given current market conditions.
Trader Rekt Capital noted on the X platform that Bitcoin typically starts rising 150 to 160 days after the halving, with the period ending within two weeks. He believes September is typically a flat month, but a breakout is more likely in October. Historical data shows that Bitcoin typically rises significantly in the fourth quarter of the halving year, with October expected to be a strong month.
