Investors in Asia opted to take a risk-off approach today after US Vice President Kamala Harris reportedly outperformed former President Donald Trump in the second presidential debate.
Bitcoin (BTC), the top cryptocurrency by market value, was down about 1% to $56,563 at press time.
Dogecoin (Doge) leads the pack of major Token losing nearly 4% over the past 24 hours while XRP, Solana (SOL), Ethereum (ETH), and BNB all lost around 1%.
Source: Coin360
Bitcoin ETFs continued to record Capital for the second consecutive day, following a chain of record losses earlier in the day. Fidelity’s FBTC product led the way with $117 million.
Earlier this year, Donald Trump attempted to appeal to the crypto community, often seen as a voter who only cares about the issue, by publicly endorsing Bitcoin and cryptocurrencies. Since then, traders have been closely watching the Trump-Harris odds on the betting platform Polymarket .
While Polymarket betting odds put Harris's chances of winning the election at 50% to Trump's 48%, polls showed Kamala Harris winning the first presidential debate between her and Trump.
In traditional markets, Futures Contract tied to the S&P 500 fell 0.4%, while Chinese stocks fell to a seven-month low. Trump defended trade tariffs during the debate, arguing they would not raise prices for U.S. consumers.
The Japanese yen rose to 141 yen per dollar, its highest level since January. The yen surged in late July after the Bank of Japan raised interest rates for the first time in decades, leading to the cancellation of risk-off trades.
Trump-themed political finance ( PoliFi ) Token are seeing significant price declines, with MAGA Token (TRUMP) down 10%, Solana ’s Doland Tremp Token (TREMP) down 28%, and MAGA Hat Token (MAGA) down 21%.
Source: Coingecko
The market Capital of the entire PoliFi portfolio fell 9% to just over $536 million.
Back at Polymarket, traders are betting 56% on another debate and 27% on Trump firing his campaign manager. Immediately after the debate, Trump appeared on Sean Hannity's Fox News show, a sign that the campaign may feel the debate performance was unsatisfactory.
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According to CoinDesk
