As reported by Coinpost, the highly anticipated first presidential debate for Joe Biden and Donald Trump in 2024 has concluded. However, it did not go as expected, especially for the cryptocurrency community, who felt disappointed. Despite hopes for discussions on regulatory issues or other topics related to the cryptocurrency industry, the subject was completely ignored.
The 90-minute debate covered various topics such as abortion and immigration, but digital assets were not addressed. This omission is surprising, considering that cryptocurrencies have been a topic of discussion among candidates and lawmakers throughout the election cycle.
Although cryptocurrencies were not mentioned during the debate, President Trump’s earlier support for digital assets seemed to work in his favor. Anthony Scaramucci, the founder of SkyBridge, had previously expressed positive views on Biden but seemed to have changed his stance after the debate. He stated, “This is brutal. President Biden lost the debate. It may cost him the election. They need to change strategy immediately.”
Furthermore, according to a poll, 67% of CNN viewers believed that Trump won the debate, while only 33% voted for Biden. Andrew Yang, a member of the Democratic Party, added, “Guys, the Democratic Party should nominate someone else – otherwise, it’s too late. #SwingAway.”
Amidst the criticism on social media, Joe Biden himself expressed through his X (former Twitter) account, “Donald Trump is a fraud. We will defeat him again.”
With no mention of cryptocurrencies during the debate, AMBCrypto examined whether it had any impact on the cryptocurrency market. Starting with Bitcoin (BTC), the leading cryptocurrency, it entered a recovery trajectory after the debate.
Prior to the debate, BTC’s trading price was $61,439, and it quickly surged to $62,152. Additionally, as of June 28, Bitcoin saw a 0.89% increase in the past 24 hours, with altcoins following suit and exhibiting a bullish trend.
Further data from IntoTheBlock confirmed this, showing a balanced market sentiment between bull and bear on June 26. However, on the day of the debate, June 27, the bulls clearly outnumbered the bears, indicating a positive shift in market sentiment.
Needless to say, according to data from CoinGecko, meme coins inspired by Joe Biden, such as Joe Boden (BODEN), suffered significant losses after the debate, plummeting over 35% in the past 24 hours.
Similarly, meme coin Doland Tremp (TREMP), inspired by Donald Trump, also experienced a decline, although not as severe, dropping 7.35% compared to CoinGecko’s previous data.