Bitcoin's Election Spread ($)
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- 😬 Bitcoin ETFs See Their Longest String of Net Outflows. US-listed spot BTC ETFs bled $1.2 billion last week.
- 🇺🇸 Democrats Ignore Crypto in Latest Tech Policy Push. While crypto increasingly pins market resurgence hopes on election results, Democrats aren't engaging.
- 🐰 Friend.Tech Devs Abandon Once-Hot SocialFi Platform. All of a sudden, 2023's hottest crypto social app appears to be dead.
📸 Daily Market Snapshot: With Harris and Trump set for their first debate tomorrow, Crypto is increasingly seeing the election toss-up as a pivotal moment for crypto markets. The brokerage firm Bernstein predicts a Trump win could take BTC as high as $90K and a Harris win could bring the asset as low as $30K. It's a bold prediction but mirrors a lack of effort from Harris to distance herself from Biden admin crypto policy.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.03T | ↗ 4.5% | ↘ 3.0% |
|
BTC $57,367 | ↗ 5.7% | ↘ 3.0% |
|
ETH $2,360 | ↗ 2.0% | ↘ 7.2% |
|
MPLX $0.258 | ↗ 5.3% | ↘ 5.7% |
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Why does Gold reign supreme? Peter Schiff is a financial commentator and economist who is relentlessly bullish on gold and a famous skeptic of bitcoin and cryptocurrencies.
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.