Trump

The latest price moves in crypto markets in context for Nov. 8, 2024.

With the crypto-friendly Donald Trump being elected president, industry leaders are now awaiting his first big move, which could be appointing a new chair of the U.S. Securities and Exchange Commission.

The ratio surged 12% Wednesday as the pro-crypto Republican candidate Donald Trump won the U.S. presidential election.

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The bullish sentiment comes from Trump’s promise to make the U.S. a leading hub for cryptocurrency during his campaigns, which might translate into more favorable regulations for DeFi.

A 25-basis point Fed rate cut will likely be a non-event, and markets will be interested in what Powell thinks of President-elect Donald Trump’s inflationary policy cocktail of loose fiscal policy and import tariffs.

Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar’s value and pushing investors towards alternative investments.

Quinn Thompson, the founder of crypto hedge fund Lekker Capital, shared with CoinDesk why he was so confident Donald Trump would win the U.S. presidential election despite the polls.

Analysts expect a broad market rally and changes in SEC leadership. Trump’s crypto policies include a bitcoin strategic reserve, banning a central bank digital currency and freeing Ross Ulbricht.

While sell-the-fact price slide looks unlikely, traders still need to watch out for the other side of the Trump trade – hardening bond yields and rising dollar index, says CoinDesk analyst Omkar Godbole.