According to TechFlow, on August 1, according to The Block, YouHodler analyst Ruslan Lienkha said that as Harris's support in key swing states increases, Bitcoin prices may be negatively affected. The current online prediction market shows that Harris has become the leading candidate in the upcoming US presidential election, which may cause concerns among cryptocurrency investors.
Lienkha noted that investors are concerned that if Harris wins, there could be tighter cryptocurrency regulation. "Bitcoin prices could come under pressure if investors believe a Democratic administration could impose tighter cryptocurrency regulations," he said. The latest polls show Harris leading Trump in four key states, while Trump leads in two. Harris' odds on the Polymarket betting platform have risen to 44%, but still lag behind Trump's 55%.
Analysts at QCP Capital believe that discussions about establishing sovereign Bitcoin reserves could fundamentally change the cryptocurrency market if Trump wins the election. “Establishing U.S. or sovereign ‘protection’ on Bitcoin prices could have a significant impact, making accumulation during market pullbacks a strategic investment approach,” the analysts noted.
