crypto

Toby Bochan11/4/24

Bitcoin price falls as polls and prediction markets lower Trump’s odds

The day before the US election, prediction markets have narrowed their odds, with CoinDesk reporting that Polymarket had dropped the odds of a Trump victory to as low as 53% overnight on Saturday — it had been as high as 67% earlier last week. Rival market Kalshi had the odds narrow even further, with the two candidates nearly dead even in the wee hours of Saturday night.

Bitcoin price fell from a near record-high on Tuesday to under $68,000 over the weekend. The crypto’s value seems to be highly correlated with the former president’s numbers, with one analyst noting on X, "Maybe it really is as simple as: • Trump win = $BTC pump • Kamala win = $BTC dump.”

As of writing, Trump has regained some of the market’s confidence, with Polymarket giving him 59.6% odds and Kalshi putting Trump’s chances at 57%, but bitcoin is still struggling to recover and break back through $69,000.

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Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election

Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election

Bitcoin price fell from a near record-high on Tuesday to under $68,000 over the weekend. The crypto’s value seems to be highly correlated with the former president’s numbers, with one analyst noting on X, "Maybe it really is as simple as: • Trump win = $BTC pump • Kamala win = $BTC dump.”

As of writing, Trump has regained some of the market’s confidence, with Polymarket giving him 59.6% odds and Kalshi putting Trump’s chances at 57%, but bitcoin is still struggling to recover and break back through $69,000.

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More Crypto

Yaël Bizouati-Kennedy10/17/25

Crypto liquidations reached $1.2 billion in the past 24 hours, according to CoinGlass data, as bitcoin continued its downward trajectory. Bitcoin suffered $458.24 million in liquidations, with the bulk of them — over $334 million — in long positions. Meanwhile, the second-biggest crypto, ethereum, saw the second-biggest figure for liquidations yesterday, with $278 million.

Bitcoin slipped as far as $103,856 early Friday morning, its lowest level since July, and is down 13% in the past seven days. The sell-off dragged the total crypto market cap down to $3.67 trillion, down 5.5%. Underscoring the market anxiety, CoinMarketCap’s fear and greed index is now at 28.

Bitcoin ETFs also suffered, registering $536 million in outflows on Thursday. The Ark 21 Shares Bitcoin ETF took the biggest hit, with $275.15 million in outflows. Since Monday, bitcoin ETFs have seen $864.5 million in outflows.

Maja Vujinovic, CEO and cofounder of digital assets at FG Nexus, told Sherwood News that bitcoin’s slump looks like a classic risk-off chain reaction.

“Credit jitters and trade tensions pushed money into gold at record highs while leveraged crypto longs were forced to unwind. Once the liquidations exhaust and policy fog clears, the same macro buyers chasing safety today are likely to hunt value in BTC again,” Vujinovic said.

SharpLink Gaming announces $76.5 million capital raise and potential to more than double that

An analyst noted that “flows and positioning, not fundamentals, are shaping the ETH story right now.”

Money in fist

Yaël Bizouati-Kennedy

Desperately Seeking Uptober

Bitcoin drops below $110,000, while treasuries slow down acquisitions

Glassnode analysts wrote that “the market is in a reset phase.”

Bitcoin sign balloon deflated

Ethereum ETFs flip black as the token rebounds above $4,000

SharpLink Gaming generated 488 ethereum tokens worth about $2 million from staking last week, while ETHZilla announced a reverse stock split at a 1-for-10 ratio.

Two Basketball Players

Yaël Bizouati-Kennedy10/15/25

The US government seized 127,271 bitcoin, worth $15 billion, in what it calls the Department of Justice’s “largest ever forfeiture action.”

The indictment against Chen Zhi, chairman of Cambodian conglomerate Prince Group, alleges that he engaged in wire fraud conspiracy using forced labor in Cambodia.

“Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large,” according to a DOJ press release.

This is “exactly the kind of outcome the Strategic Bitcoin Reserve was designed to enable,” Zack Shapiro, managing partner at Rains Law and head of policy of the Bitcoin Policy Institute, said on X.

This significantly increases the size of the US’s strategic reserve, which held over 197,000 bitcoin before the seizure. As of today, Arkham Intelligence data shows it’s holding 324,780 bitcoin, worth over $37 billion.

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