CandleFocus

S&P, Treasury yields and crypto skyrocket with Trump’s probable win

The early election results favoring Donald Trump have led to gains in both the stock market and the cryptocurrency market. S&P 500 futures and Treasury yields are up, while the dollar is on track for its biggest win since 2020. Bitcoin has spiked over 8% to reach a new record high of $75,000, as investors bet on Trump's victory. This has also led to increased demand for smaller-cap stocks, crypto, and sectors sensitive to Republican policies. The global crypto market cap has surged by 11%, with crypto stocks like Coinbase and MicroStrategy also experiencing gains. Analysts predict that Bitcoin prices will fluctuate until a winner is declared, with a Trump win potentially driving prices higher. However, they also warn of downside risks if Kamala Harris wins. Overall, the market is reacting positively to the early election results favoring Trump, with predictions of a stock boost in the case of a Republican victory.

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