US presidential candidate Robert F. Kennedy Jr. introduced his resolution to withdraw from the 2024 presidential race and endorse former President Donald Trump throughout a press convention in Arizona on Aug. 23.
The announcement, mixed with Fed chair Jerome Powell’s bullish speech earlier within the day, induced Bitcoin (BTC) to surge 2.5% previously hour and retake the $63,500 worth degree.
The flagship crypto was buying and selling at $63,750 as of press time, up virtually 6% over the past 24 hours, based mostly on CryptoSlate information.
Endorsing Trump
RFK mentioned he has determined to endorse Trump as a result of he helps free speech, the kids, and ending the struggle in Ukraine. Notably, the 2 are additionally aligned of their help for Bitcoin and the digital asset trade.
RFK mentioned throughout that he just lately met Trump and his household in Florida, the place they agreed to affix forces. RFK additionally revealed that he made makes an attempt to succeed in Vice President Kamala Harris, however she refused to fulfill him.
RFK mentioned his marketing campaign wouldn’t finish however could be suspended in key jurisdictions. The speech got here a couple of minutes after his marketing campaign declared in a submitting with the Pennsylvania courtroom that he was endorsing Trump.
Kennedy has requested to be faraway from the Pennsylvania poll following his withdrawal from the Arizona poll on Aug. 22.
Regardless of withdrawing from the race, RFK Jr. stays on the poll in a number of purple and blue states. His technique hinges on the potential for a contingent election, which might happen if neither main occasion candidate, particularly Harris or Trump, secures the required 270 electoral votes, leading to a 269-269 tie.
In such a situation, the election could be determined by the Home of Representatives, the place RFK Jr. might theoretically place himself as a compromise candidate, probably resulting in an surprising path to the White Home.
Markets proceed optimistic momentum
Bitcoin’s important surge was mirrored by different main cryptocurrencies, together with Ethereum (ETH) and Solana (SOL). ETH climbed 1.8% in a couple of minutes after the Pennsylvania submitting grew to become public, reclaiming the $2,700 space, whereas SOL is nearing the $150 after a 2.6% surge.
The information additionally sustained the momentum within the US equities market, because the S&P 500, Nasdaq, and Dow Jones are up by 1%, 1.3%, and 1%, respectively.
Nevertheless, the Polygon-based prediction market Polymarket has but to point out a optimistic shift towards Trump’s odds of profitable the elections. On the time of writing, Kamala Harris’ odds are at 49% after climbing 2% on the day, whereas Trump’s have known as to 50%.
Bitcoin Market Information
On the time of press 8:44 pm UTC on Aug. 23, 2024, Bitcoin is ranked #1 by market cap and the value is up 5.49% over the previous 24 hours. Bitcoin has a market capitalization of $1.26 trillion with a 24-hour buying and selling quantity of $36.39 billion. Study extra about Bitcoin ›
Crypto Market Abstract
On the time of press 8:44 pm UTC on Aug. 23, 2024, the overall crypto market is valued at at $2.24 trillion with a 24-hour quantity of $76.1 billion. Bitcoin dominance is presently at 56.09%. Study extra in regards to the crypto market ›
