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Bitcoin holds steady at $70,000, awaiting election results for movement

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1 year ago

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Bitcoin holds steady at ,000, awaiting election results for movement
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Bitcoin (BTC0.00%) remains just shy of its all-time high, potentially biding its time for the election results. Speculation about who will become the 47th president of the United States—Donald Trump or Kamala Harris—has created an atmosphere of fear, uncertainty, and doubt within the crypto community. A lot of polls indicate a close race between the two candidates.

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Earlier this week, the leading cryptocurrency peaked at $73,562, just below 1% of its record high of $73,737, which it reached in March. However, since then, Bitcoin has slipped, falling to the $70,000 mark. Currently, Bitcoin’s price appears largely stagnant, as it seems to await the election results with bated breath.

Many are already speculating on how Bitcoin might respond to a potential victory by either Trump or Harris. Debates are emerging over which outcome would be more favorable for the cryptocurrency in the long run.

What will happen to Bitcoin if Trump wins versus Harris?

There’s little doubt that Bitcoin will soar if Trump wins. The former President positioned himself as a “crypto candidate,” actively embracing digital assets as part of his campaign. He even started accepting campaign donations in various cryptocurrencies, including Bitcoin, Ether (ETH+0.84%), Dogecoin, and Solana (SOL+2.88%), among others.

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Of course, not all crypto enthusiasts are Trump supporters, but many welcome his recent pro-crypto stance. For instance, at a Bitcoin conference, Trump promised to fire SEC Chair Gary Gensler on his first day in office — a move that resonates strongly with crypto advocates, as Gensler’s policies have often been unpopular in the cryptosphere. Trump further promised to establish a national Bitcoin reserve, an ambitious goal that has captivated many in the crypto community.

On the other hand, Vice President Harris, who had previously been cautious about discussing cryptocurrencies, recently began to address the topic more openly. She has called for stronger regulatory oversight of the crypto market, emphasizing the need for clear rules to ensure consumer protection and financial stability.

Given Kamala Harris’s late and lukewarm response to Bitcoin, many anticipate an immediate dip in leading cryptocurrency’s price if she wins, followed by a possible rebound later.

Other major cryptocurrencies are also flat

Bitcoin’s reluctance is affecting the entire crypto market, leaving major cryptocurrencies seeming hesitant to make significant moves in either direction. Ether (ETH), the second-largest cryptocurrency by market capitalization, is currently trading at $2,500, reflecting a slight dip of 0.6% over the past 24 hours. Additionally, popular memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIBA), known for their volatility, remained stable on Friday, with minor declines of 0.7% and 1%, respectively.

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Crypto

Disappointed By Bitcoin And Dogecoin In 2025? These Coins Soared Over 2000% To Dominate The Gainers List

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11 hours ago

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December 29, 2025

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Disappointed By Bitcoin And Dogecoin In 2025? These Coins Soared Over 2000% To Dominate The Gainers List

Amid a year of big losses for major large-cap cryptocurrencies, two under-the-radar tokens captured the market’s attention by delivering eye-popping returns.

The Unprecedented Surge

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Solana (CRYPTO: SOL)-based memecoin pippin (PIPPIN) skyrocketed 5384% in 2025 to become the cryptocurrency market’s biggest gainer of the year.

Largely dormant throughout the year, the coin ignited an explosive rally around mid-November, culminating in an all-time high of $0.6109 last week.

PIPPIN was launched as a viral AI-generated unicorn image by Yohei Nakajima, creator of the autonomous AI agent BabyAGI. After going viral on social media, the community decided to transition the token into an autonomous AI agent on X.

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Cryptocurrency YTD Gains +/- Price (Recorded at 8:14 p.m. ET)
pippin +5384.24% $0.4212
AB +2716.16% $0.004567

See Also: Bitcoin Failed As ‘Store Of Value’ In 2025, But These Crypto Derivatives Of Gold, Silver Delivered Sharp Returns — Check Them Out

Similarly, AB (AB) token rallied 2716%, emerging as the second-most successful cryptocurrency of the year. Unlike PIPPIN, the coin erupted to new highs in early 2025 but lost its footing in the later stages.

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AB, formerly known as Newton Project, is a modular blockchain ecosystem focused on cross-chain interoperability and real-world asset integration. The native token is used for paying transaction fees, executing smart contracts and enabling governance.

These towering gains stood in stark contrast to the losses endured by more popular assets like Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE), which lost their way in the last quarter of the year following robust rallies earlier.

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While Bitcoin lost 4.59% year-to-date, Dogecoin has bled 60% since 2025 started.

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Photo Courtesy: Alexandru Nika on Shutterstock.com

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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Landmark Crypto Bills Drive 2025 Regulatory Shift as Congress Signals Commitment to Digital Asset Growth

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23 hours ago

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December 28, 2025

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Landmark Crypto Bills Drive 2025 Regulatory Shift as Congress Signals Commitment to Digital Asset Growth
U.S. crypto regulation advanced sharply in 2025 as Congress set stablecoin rules, embraced regulated digital finance and accelerated market structure efforts, marking a broad legislative push that brought long-sought clarity to digital assets.
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Crypto

Bitcoin price retraces 30% from record high. How does crypto market look like in 2026? | Stock Market News

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1 day ago

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December 28, 2025

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Bitcoin price retraces 30% from record high. How does crypto market look like in 2026? | Stock Market News

The year 2025 has remained mixed for the crypto market as the sector presents a balanced yet optimistic outlook. Looking at the positive side, there was tangible advancement—DeFi ecosystems continued to grow, stablecoins gained wider traction, CBDC infrastructure pilots moved forward, and developer participation surged across APAC and worldwide, with millions building on-chain.

“On one hand, the industry saw real progress: growth in DeFi projects, expansion of stablecoins, new CBDC-infrastructure pilots, and rising developer activity across APAC and globally, with millions committing to code on-chain. On the other hand, after early-year optimism from retail investors, the October correction was a reminder that sentiment remains fragile and that hype without real delivery can still hurt the industry,” said Nischal Shetty, Founder, WazirX.

Bitcoin has fallen roughly 30% from record high levels and is down more than 6% so far this year, as the market continues to find it difficult to recover after the October crash. According to Bloomberg report, trading activity remains subdued, with retail speculation losing momentum.

The decline has partly been driven by technical factors, with prices dropping below the 365-day moving average, while persistent selling by long-term holders has also weighed on Bitcoin.

Key drivers of the crypto market in 2025

At the beginning of the year, the market witnessed the setup of US Strategic Bitcoin Reserve, underscoring Bitcoin’s rising strategic significance.

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By mid-year, the enactment of the GENIUS Act introduced a well-defined regulatory framework for USD-backed stablecoins, strengthening confidence and paving the way for wider adoption.

The CFTC’s December 4 decision to permit listed spot crypto products on registered futures exchanges represented a key milestone, advancing the market from regulated ETFs toward more transparent cross-border compliance structures and greater institutional involvement.

Crypto market outlook in 2026

According to Shetty, global institutional appetite for regulated digital-asset products will continue to increase, driving capital inflows and contributing to market stability.

At the same time, domestic policies for countries will be key in shaping their respective investor sentiment. In India, the foundation stone of the CBDC project could be laid soon, Shetty added.

“The RBI has announced a hackathon in October to nurture tech talents in the emerging technology space, which will encourage more Indians to see emerging tech as a promising career prospect. A clearer regulatory framework for VDAs, potentially paired with supportive tax measures, support for stablecoin initiatives alongside CBDC measures, could unlock real-world blockchain use cases from Indian builders to kickstart on-chain growth for Indians,” Shetty said.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

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