Bernstein: The strengthening of Bitcoin is related to the rising probability of Trump's election

ChainCatcher news, analysts from the research and brokerage firm Bernstein stated that after a 5% increase on Monday, Bitcoin rose approximately 14% in October, reaching over $65,000. This was driven by the correlation with the rising odds of Donald Trump's election, with MicroStrategy being a leading indicator of a potential bullish breakout.

Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia analyzed: "We believe that the recent strength of Bitcoin is due to the correlation of Bitcoin with the rising odds of Trump's election. Although both sides express support for digital assets, the crypto market's bids are stronger due to Trump's increased odds in the election prediction market."