Bitcoin 
$62,634 price quickly surged from $54,800 to above $57,000, reaching a daily peak of $58,088. At the time of writing, BTC is trading at $57,350 with an increase in volume. The day is positive for altcoins as well, with the recovery in BTC turning them green after excessive selling. So, what is the latest situation with Trump Coins? What do the latest polls tell us about the November elections?
Trump-Harris Debate and BTC
Bitcoin price saw its local bottom at $52,500 on Friday after a long time. Trump and Harris will share their arguments later today. This development will also provide investors with an opportunity to gauge who might win the election. After a program where Biden and Trump faced off, Biden had to leave his candidacy to his running mate Kamala Harris due to his extremely weak performance.
Approaching CPI data before the Fed meeting on September 18 also supports investor appetite. Following the consistent losses in the S&P 500, the potential for recovery with the FOMC is triggering a buy-the-news event in crypto.
Bitfinex analysts wrote in their latest assessment:
“We see Bitcoin’s movement as dependent on the performance of US stocks. In our view, the main reason for Bitcoin’s decline last week was the drop in the S&P 500; the stock index closed the week down 4.25%, marking the worst weekly performance for the index since March 2023.”
In July, cryptocurrencies, which are much more sensitive to stock movements, fell by 14% in response to the 4.25% drop in the S&P 500. If Trump dominates this debate and stocks recover due to the Fed, the momentum in crypto could continue.
Trump Coins
PolitFi will be one of the more prominent areas as the November elections approach. With increasing interest in election prediction markets, the risk appetite in altcoins needs to recover for fan tokens launched for candidates to see greater interest. However, if Trump performs well in this debate, Trump Coins could positively diverge in the short term, independent of the general market sentiment.
The most popular Trump Coin, MAGA (TRUMP), has a market cap of $142 million and is trading at $3.25. We might see a dip support at $2.7 and a potential spike to $4.2 in case of a rise. Above this level, the rally could accelerate.
In the latest election polls, Harris leads the race with 49% while Trump is at 47%. Trump increased his vote by 3 points after his debate with Biden, but lost strength with the change of his opponent. Of course, the waning excitement of the armed attack also played a role in this.
