US presidential candidate Robert F. Kennedy Jr. introduced his resolution to resign from the 2024 presidential race and endorse former President Donald Trump throughout a press convention in Arizona on August 23.
The announcement, mixed with Fed Chairman Jerome Powell's bullish speech earlier within the day, despatched Bitcoin (BTC) up 2.5% within the final hour to re-enter the $63,500 worth degree.
The cryptocurrency flagship was buying and selling at $63,750 at press time, up practically 6% over the previous 24 hours, primarily based on fromcrypto information.
Trump assist
RFK mentioned he determined to assist Trump as a result of he helps free speech, kids and ending the struggle in Ukraine. Notably, the 2 are additionally united of their assist of Bitcoin and the digital asset trade.
Within the course of, RFK mentioned he just lately met with Trump and his household in Florida, the place they agreed to affix forces. RFK additionally revealed that he tried to contact Vice President Kamala Harris, however she refused to fulfill with him.
RFK mentioned his marketing campaign wouldn’t finish, however can be suspended in key jurisdictions. The speech got here minutes after his marketing campaign mentioned in a Pennsylvania courtroom submitting that it was endorsing Trump.
Kennedy requested to be faraway from the Pennsylvania poll after his withdrawal from the Arizona poll on August 22.
Regardless of withdrawing from the race, RFK Jr. stays. on the poll in a number of crimson and blue states. His technique hinges on the potential for a contingent election, which may happen if neither main get together candidate, specifically Harris or Trump, receives the mandatory 270 electoral votes, leading to a 269-269 tie.
In such a state of affairs, the Home of Representatives would determine the election, the place RFK Jr. he may, in idea, have pitched as a compromise candidate, doubtlessly resulting in an sudden journey to the White Home.
Markets proceed their optimistic momentum
Bitcoin's sharp rise was mirrored by different main cryptocurrencies, together with Ethereum (ETH) and Solana (SOL). ETH climbed 1.8% within the minutes after the Pennsylvania announcement turned public, reclaiming the $2,700 space, whereas SOL is nearing $150 after gaining 2.6%.
The information additionally stored momentum within the US inventory market because the S&P 500, Nasdaq and Dow Jones gained 1%, 1.3% and 1% respectively.
Nonetheless, the polymarket prediction market primarily based on Polygon doesn’t but present a optimistic shift in the direction of Trump's likelihood of profitable the election. On the time of writing, Kamala Harris is at 49% after climbing 2% on the day, whereas Trump's is at 50%.
Bitcoin market information
At press time 23 Aug 2024 at 20:44 UTCBitcoin is primary by market capitalization and worth is up 5.49% within the final 24 hours. Bitcoin has a market cap $1.26 trillion with 24-hour buying and selling quantity $36.39 billion. Study extra about Bitcoin ›
Crypto market overview
At press time 23 Aug 2024 at 20:44 UTCthe overall crypto market is valued at $2.24 trillion with 24-hour quantity $76.1 billion. Bitcoin dominance is presently at 56.09%. Study extra in regards to the crypto market ›
