US Presidential electionsWith only two weeks to go, tensions are rising in the markets. While former President Donald Trump is ahead of Kamala Harris in the betting markets, Republicans are also ahead in critical states. Markets have begun to price in a possible Trump victory. While issues such as Trump’s more moderate approach to cryptocurrencies and tax cuts are on the agenda, the appreciation of the US dollar and increases in bond interest rates attract attention. With these developments Bitcoin (BTC) 
$66,484 also gained upward momentum.
US Markets Recover and Rush to New Records
in the USA stock market It is also experiencing busy days. While the S&P 500 index moved towards new highs, US 2-year Treasury bond yields rose above the 4 percent level again. On the other hand, the value of open interest in the Bitcoin futures market reached a record level.
The value of total open interest in the stock exchanges increased to 40.5 billion dollars. biggest cryptocurrencyThe price of the company increased to 69 thousand dollars with the effect of these developments.
The expectation of a 1.5 basis point interest rate cut in 2024 is getting stronger in the markets. Stronger-than-expected employment data in the United States and Trump’s increased chances of becoming president increase growth hopes for the country’s economy. But investors will keep their eyes on the announcement on Friday Non-Farm Employment has been converted to data. Data will play a critical role in shaping expectations for interest rates before the next Fed meeting.
Interest Rate Cut Expectations
The interest rate cut expectation in the markets creates an optimistic atmosphere, especially for the cryptocurrency market. Trump’s adoption of more cryptocurrency-friendly policies and promises to cut taxes increase interest in all cryptocurrencies, especially Bitcoin. US bond yieldsThe rise of the Turkish lira, the increase in the value of the dollar and the expectation of a possible growth under Trump’s leadership have a significant impact on the markets.
In light of all these developments, investors are focused on the data to be announced in the coming days and the US election results. Especially with the announcement of Non-Farm Employment data, fluctuations in the markets may increase and there may be changes in expectations for interest rate cuts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
