According to data from Coinglass, Bitcoin has fallen below the $68,000 mark today during trading.
Last week, Bitcoin briefly rose to over $74,000, but has since faced ongoing corrections, with over 100,000 people liquidated in the past 24 hours.
A highly anticipated poll released on Saturday showed that U.S. Vice President Harris is slightly ahead of former President Trump in Iowa. Analysts believe that Iowa is a very solid red state, and neither candidate focused their efforts here in the final campaign. Predictors think there is almost no chance of a reversal in Iowa. However, the latest poll released on Saturday, just three days before Election Day, shows Harris leading Trump with a support rate of 47% to 44%, which is an unexpected result, as Trump had previously led in Iowa polls in mid-September.
Bloomberg noted that Trump embraced the digital asset industry during his campaign, boosting sentiment around cryptocurrencies, but the question is whether the impact of his broader priorities will temper this optimism. Tony Sycamore, a market analyst at IG Australia Pty, stated, "Certainly, yes, the stock sell-off, rising dollar, and increasing yields all mean tighter financial conditions. In extreme cases, cryptocurrencies do not fare well. Some may point out that financial conditions were loose to begin with, but the speed of the implementation of tightening policies is more important." Caroline Mauron, co-founder of digital asset derivatives trading liquidity provider Orbit Markets, said that if Trump wins, it may lead to higher yields and ultimately have a "negative impact on risk assets." Nevertheless, she added, "The expected regulatory softening of the cryptocurrency industry under the Trump administration should still be a more significant factor."
