Bitcoin Rally Cools as Trump Trades Present Hurdles for Crypto
(Bloomberg) — Bitcoin’s classification as a so-called Trump trade is starting to jar with wider shifts in global markets attributed in part to the possibility of the former president’s return to the White House.
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Bond yields and the dollar have jumped lately amid Republican nominee Donald Trump’s lead over Vice President Kamala Harris in prediction markets. On one view, investors are curbing bets on looser monetary policy as Trump will apply a pro-growth agenda to an already robust US economy if he wins on Nov. 5.
Bitcoin and stocks have wavered alongside this relative tightening in financial conditions, leaving the token facing its first weekly loss in three. Trump embraced the digital-asset…
