Biden drops out, Trump concept stocks rise in night trading
DJT and concept stocks related to digital currencies performed well in the night session
President Biden announced that he will no longer seek re-election and expressed support for Vice President Kamala Harris as the Democratic Party's next candidate.
During the night session, Trump concept stocks rose, with DJT and digital currency concept stocks leading the gains:
Trump's attitude towards cryptocurrency is increasingly open. If Trump can return to the White House, it will be beneficial for Bitcoin miners and cryptocurrency companies, potentially ushering in a turning point.
On social media, Elon Musk's profile picture has been added with laser eyes, a symbol widely circulated in the cryptocurrency community, demonstrating optimism about the future development of Bitcoin.
Teong Hng, CEO of Satori Research, pointed out that active trading in the off-exchange options market indicates that Bitcoin may soon return to its historical highs. In particular, the increasing interest in call options with a strike price of $100,000 expiring in December 2024 reflects growing bullish sentiment among institutional investors towards Bitcoin. Hng stated that he "expects a strong rebound by the end of the year, with a Trump victory as a catalyst."