Key Takeaways
- Bitcoin fell 1.5% after a debate excluded Bitcoin policy.
- Trump hinted at Bitcoin becoming 'the new gold' while Harris remained cautious.
- Institutional demand for Bitcoin ETFs grew, with $117 million in inflows.
Bitcoin fell by 1.5% on Wednesday to $56,500 following the U.S. presidential debate between Vice President Kamala Harris and former President Donald Trump.
The debate, which focused on issues like abortion and Ukraine, did not mention Bitcoin regulation, disappointing investors.
Trump’s views on Bitcoin have shifted from skepticism to support, as he recently suggested that Bitcoin could replace gold.
He also hinted at appointing Elon Musk to oversee financial systems if re-elected. Vice President Harris, on the other hand, has been more cautious, supporting blockchain technology in the past but offering little insight into her current stance on Bitcoin.
Analysts from QCP Capital warned of potential volatility, citing the uncertainty surrounding the election and policy stances. The upcoming release of economic data, including CPI, may further impact market movements.
