Analysts at QCP Capital believe the uncertainty surrounding Tuesday night's debate between Donald Trump and Kamala Harris is weighing on the US stock market and, in turn, the cryptocurrency market. "Macroeconomic uncertainty is currently dominating the cryptocurrency market, with a 30-day correlation to the MSCI World Equity Index reaching 0.6, close to a two-year high," the analysts noted.
The QCP Capital unit reported buoyant activity in the derivatives market, with investors expecting heightened volatility around the Trump-Harris debate, which begins at 9pm EST tonight. "We are seeing an influx of buying, with the number of bitcoin options contracts expiring on September 11 reaching 400 with a strike price of $57,500," the analyst added.
Analysis: Uncertainty over Trump-Harris debate weighs on stocks and cryptocurrencies
2024-09-10 19:23:01
QCP capital analysts think Tuesday night Donald Trang Pu and Kamaladesk3cryptocurrencydesktopCrypto News
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