Bitcoin Holds Steady at $54,000 as Altcoins Rebound

You can also read this news on COINTURK NEWS: Bitcoin Holds Steady at $54,000 as Altcoins Rebound

Bitcoin hovered around $54,000 throughout the day, creating a reasonable chart for the weekend. Volumes eased as hours progressed over the last 24 hours. Altcoins have turned green as they began to recover from the rapid drop experienced at this time yesterday, rebounding from the local dip. The CFTC continues its intense work.

CFTC and Election Prediction Contracts

Various platforms offer prediction markets, although they are not legal in many parts of the world. Prediction contracts are being launched for crypto investors or on topics of global interest. Kalshi, like Polymarket, had published a prediction contract for the US elections. The CFTC objected to this. After the judge ruled in favor of the platform, Kalshi shared the following statement.

“We did it! US election markets are coming to Kalshi. Stay tuned for more information and God bless America!”

However, the CFTC stated that it would exercise its right to appeal and requested a two-week stay, telling the court that it was bound until it saw the court’s reasoned decision. Additionally, the following section of the appeal could pose a problem for crypto in the future.

“The relevant contracts could potentially be used in a way that negatively impacts election integrity or the perception of election integrity, putting the Commission in a position to investigate election-related activities.”

Imagine this: Trump wins the elections, and on crypto prediction platforms, Trump leads until the elections end. Why? Because crypto investors want him to win, leading to a biased perspective. Imagine the expressions of Democrats pounding the tables, trying to turn this process into an event similar to Cambridge Analytica.

FTX collapsed, and some politicians said it was dangerous for the fate of the US. They claimed that states hostile to the US were constantly buying weapons with crypto and that most of the world’s crimes were financed with crypto. Of course, they could do this, and if Kamala Harris wins the elections and says, “we dodged such a risk,” things could get even more complicated.

Current Status of US Polls

In the latest polls, Kamala Harris is getting between 47% and 48% of the votes. Competition is quite heated in some states. Trump, on the other hand, has to close a significant gap with nearly 44% of the votes. On crypto prediction platforms, Trump is ahead of Harris by 7% more votes. Of course, this figure, which does not match data from platforms like Reuters and the Guardian, reflects crypto’s positive bias towards Trump.

In the visual above, you can see the change in the vote difference from before August to today.

The post Bitcoin Holds Steady at $54,000 as Altcoins Rebound appeared first on COINTURK NEWS.