Bitcoin Pops 4% on Rumors of Upcoming RFK Resignation
Bitcoin rose 4% to $61,550 as speculation grew that Robert F. Kennedy Jr. may drop out of the 2024 US presidential race to support Donald Trump.
The news has made Trump the betting favorite to win the election in November, which is seen by analysts as having major implications for Bitcoin's short-term price movements.
According to ABC News, RFK Jr. By the end of the week, the sources said, they support Trump. When contacted directly, RFK would neither confirm nor deny the rumors. This comes after Kennedy's graduate colleague Nicole Shanahan hinted in a recent podcast that she and Kennedy had a difficult decision to make about whether to put their efforts behind Trump. According to Polymarket, crypto bettors now believe there is a 97% chance that RFK will drop out of the race before November. They also had a 52% chance of beating Trump in the November election, compared to Kamala Harris at 47%. Late Tuesday, Alex Jones of InfoWars also reported that RFK has recently endorsed Trump and is likely to be considered for various cabinet positions under the Trump administration. According to FiveThirtyEight, Harris has a 2.8% lead over Trump in national polls. Kennedy, on the other hand, is polling 4.9% nationally, which means that voter turnout could swing the outcome of the election. The resulting price action has resulted in $104 million in crypto liquidations over the past 24 hours, according to Congress.
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