- Bitcoin prices fluctuate in tandem with US election odds for Trump and Harris.
- A new meme coin index fund called Vantard offers exposure to high-growth meme coins.
- Vantard’s Meme Portfolio (VMP) will allow investors to benefit from the “memecoin supercycle” with minimal effort.
With markets experiencing turbulence and the US elections shaping up to be a closer race than anticipated, crypto traders are shifting strategies to manage risk and capture returns.
Vantard’s Meme Portfolio (VMP), a unique index fund for Solana’s top meme coins, is increasingly seen as a way to ride out market volatility. Designed to capitalize on the current “memecoin supercycle,” Vantard’s VMP offers traders a chance to invest in high-growth assets without the complexity of daily trading.
Crypto market swings wildly as US elections nears
In the days leading up to the US presidential election, the crypto market has shown unusual sensitivity to election odds, especially with the price of Bitcoin fluctuating in parallel with the betting markets.
Notably, the race between GOP candidate Donald Trump and Democratic candidate Kamala Harris, the latter of whom replaced Biden on the ticket, has recently tightened.
On Polymarket, a popular betting platform, Trump’s chances initially surged to 67%, correlating with Bitcoin’s ascent toward an all-time high near $73,700. This trend seemed to reflect trader optimism around a crypto-friendly outcome, given Trump’s known support for digital assets.
However, as Trump’s odds decreased—dropping to below 53% at one point—the cryptocurrency market responded, with Bitcoin’s price retreating to as low as $67,600.
Although both Trump’s odds and Bitcoin’s price have partially recovered, with Trump holding at 56% and Bitcoin trading around $68,300, the impact of political events on the crypto market remains stark.
Bitcoin’s correlation with election outcomes is striking, with broader market indices such as the CoinDesk 20 Index also showing similar trends. Cardano (ADA) and Avalanche (AVAX) have notably underperformed, each down nearly 6% during the same period.
Analysts have pointed out this emerging trend, with crypto commentator Miles Deutscher noting how “correlated Bitcoin price action is to Trump’s election odds.”
It’s crazy how correlated #Bitcoin price action is to Trump’s election…