A negative signal for Bitcoin

Risk aversion intensified after the debate, with analysts emphasizing that Trump’s victory is generally considered a positive for risky assets, especially cryptocurrencies.

“Trump’s influence in the crypto space is now clear, especially considering the recent news about his DeFi project and his campaign rhetoric promising to oust U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler,” Bitfinex analysts added.

QCP Capital analysts had previously expressed that risk aversion has increased due to uncertainty over the November 5 election results.

BRN analyst Valentin Fournier suggested that Kamala Harris’s debate performance has led the market to reassess her chances of winning, which could have a negative impact on Bitcoin’s price. “Harris is a negative signal for Bitcoin because she could delay some of the progress that could have been made under the Trump administration,” Fournier said.