ANALYSIS: Uncertainty over Trump-Harris debate puts pressure on stocks and cryptocurrencies
Analysts at QCP Capital believe that the uncertainty surrounding Tuesday night's debate between Donald Trump and Kamala Harris is weighing on U.S. equities and, in turn, the cryptocurrency market. The analysts note: ‘Macroeconomic uncertainty is currently dominating the cryptocurrency market, with the 30-day correlation with the MSCI Global Equity Index at 0.6, near its highest level in 2 years.’ The QCP Capital division reported active activity in the derivatives market, with investors expecting volatility to increase around tonight's Trump-Harris debate, which begins at 9 p.m. ET. ‘We are seeing a large influx of buying, with the number of bitcoin options contracts expiring on 11 September reaching 400 contracts with a strike price of $57,500’, the analysts added.
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