Bitcoin briefly spiked 1.1% to $62,152 during the Biden-Trump debate as betting markets favored Trump, then settled back to $61,362.
On the evening of June 27, the price of Bitcoin increased by as much as 1.1% as presidential candidate Donald Trump increased the distance between him and current President Joe Biden on betting markets during the first presidential debate on CNN.
Bitcoin was trading at $61,439 prior to the commencement of the debate, and it rapidly increased to $62,152 as Donald Trump and Joe Biden responded to rapid-fire questions from CNN moderators. According to TradingView data, it has since receded to $61,362 at the time of publication.
Prediction markets platform data ForeseeIt demonstrated that Trump’s likelihood of gaining the presidency increased, while Biden’s chances decreased. This was evident in the fact that Biden struggled to complete certain sentences and provided incomplete responses during the debate.
The gap between Trump and Biden increased to 26 points as the share values reflecting his odds on the platform surged from approximately $0.53 to $0.63 within an hour, while Biden’s prices plummeted from $0.48 to $0.37 during the same period.
