CandleFocus ? Bitcoin Breaks Above $70K as Crypto and U.S. Stocks Move Higher Early on Election Day
2024-11-05
Author: Content Editor
As Americans head to the polls to vote for their president and determine control of the two houses of Congress, risk assets are on the rise. Bitcoin crossed above $70,000, up 2.4% in the past 24 hours, while the broader CoinDesk 20 Index increased by 1.6%. Ether, however, continued to underperform bitcoin. Crypto-linked stocks also saw gains, with companies like Semler Scientific, Marathon Digital, Riot Platforms, and Hut 8 sporting increases. The Nasdaq and S&P 500 were up in traditional markets, and the 10-year U.S. treasury yield rose. Polls indicate a tight race for the U.S. presidency and control of the House and Senate, with betting markets showing higher odds for a Donald Trump victory.
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