The Relationship Between Trump and Bitcoin What Does His Victory Mean for BTC Investors

Bitnews reported that Bitcoin has surged to a three-month high due to the strong momentum of the “Trump trade” ahead of the US election.
Donald Trump is leading in Polymarket data, which is believed to be favorable for the cryptocurrency market.
In the volatile Asian market, stocks have seen ups and downs, and the cryptocurrency market has shown significant resilience.
Bitcoin [BTC] has soared to a three-month high, reflecting a strong increase in trading activity due to the growing momentum of the so-called “Trump trade”.
Earlier this month, on October 21st, BTC reached $68,496.98, a growth of over 6% in the past week and over 8% in the past month.
This happened as investors are just two weeks away from the US presidential election.
Trump’s rising chances of winning and its impact on the cryptocurrency market
Polymarket data shows that Donald Trump is leading with a projected vote share of 61.1%, while Kamala Harris is trailing with a vote share of 38.8%.
Therefore, as there are no major economic events this week, the market is focused on corporate earnings and election risks.
It is evident that with the rise in Trump’s prospects, Bitcoin has surged as his administration is seen as more lenient towards cryptocurrency regulation.
His tariff, tax, and immigration policies are seen as inflationary, which could boost the US dollar and benefit the cryptocurrency market.
Executives weigh in
Commenting on this, Chris Weston, Research Director at Australian broker Pepperstone, emphasized that investors may face increasing costs as they hedge against US dollar volatility and other portfolio-related risks.
Weston said, “With only 15 days left until the US election, traders need to decide if now is the right time to start trading the election with more confidence.”
Brad Bechtel, Global Head of FX at Jefferies, also joined the debate, adding that the rise in real interest rates is providing support for the US dollar, especially against the three major currencies.
“We expect this trend to continue until the election, and if Trump wins, it is likely to persist for a long time after the election,” he said.
Is it possible for Trump to win?
In fact, in a recent post on X, Alex Thorn, Director of Research at Galaxy Digital Firmwide, revealed a policy scorecard that assesses the cryptocurrency stances of presidential candidates Kamala Harris and Donald Trump.
He said, “There is limited downside risk if Harris wins, but there could be explosive upside if Trump wins.”
As expected, the scorecard was examined in detail, revealing that Donald Trump outperformed Kamala Harris in seven out of nine core points.
Therefore, with just a few days left until the US presidential election, it will be interesting to observe the cryptocurrency market’s reaction during and after the election.