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Trump's 2024 Election Odds Remain Strong Despite Conviction

Former President Donald Trump leads 2024 election predictions despite being convicted on 34 counts related to a hush-money scheme.

• Main Points:

  • Leading Candidate: Trump is still favored to win the 2024 election.

  • Conviction Details: Convicted for felony falsification of business records.

  • Eligibility: Trump remains eligible to run for president.

  • Market Odds: Polymarket shows Trump with a 54% chance of winning.

  • Public Reaction: Some former non-supporters now back Trump due to dissatisfaction with current policies.

• Detailed Insights:

  • Leading Candidate: Trump tops Polymarket's election predictions with a 54% chance of winning, even after his conviction on May 30, 2024.

  • Conviction Details: Found guilty of falsifying business records, Trump faces a potential four-year sentence, though jail time is unlikely.

  • Eligibility: The conviction does not bar Trump from running for president in 2024.

  • Market Odds: Polymarket and other betting sites show Trump leading over President Biden, with significant market interest.

  • Public Reaction: Some individuals have shifted support to Trump, driven by discontent with current policies, influencing his strong odds in prediction markets.

Related: Trump Explores Bitcoin to Tackle US Debt Crisis

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Bitcoin Sees Best May Since 2019 Despite 3% Price Dip

Bitcoin faced a 3% dip due to price manipulation but still secured an 11% gain in May, its best performance for the month since 2019.

• Main Points:

  • Monthly Gains: Bitcoin achieved an 11% increase in May.

  • Price Manipulation: End-of-month volatility caused by large traders.

  • Support Levels: Crucial to hold $66,000 for upward momentum.

  • Whale Activity: Significant role of Bitcoin whales in price swings.

• Detailed Insights:

  • Monthly Gains: Bitcoin closed at $67,500 on June 1, marking an 11% gain for May.

  • Price Manipulation: Large traders caused price dips, linked to a hack in Japan and strategic market moves.

  • Support Levels: Holding $66,000 is critical for further gains, according to trader Michaël van de Poppe.

  • Whale Activity: Bitcoin whales manipulated liquidity, impacting the attempt to secure $69,000 as support.

Related: Bitcoin Price Eyes Key Level for Monthly Close

Bitcoin Whales Accumulate Billions Daily: 2021 Bull Run Ahead?

Bitcoin whales are investing around $1 billion daily, potentially signaling a repeat of the 2021 bull run.

• Main Points:

  • Whale Activity: Daily additions of $1 billion in BTC.

  • Historical Pattern: Mirrors pre-2021 bull run behavior.

  • Stable Price: Price steady but high on-chain activity.

  • Key Resistance: Approaching $69,000 resistance.

  • Future Surge: Potential rise to $156,000 by May 2025.

• Detailed Insights:

  • Whale Activity: Whales are accumulating Bitcoin at a rate of $1 billion per day.

  • Historical Pattern: Similar to mid-2020 activity before the 2021 bull run.

  • Stable Price: Despite stability, on-chain activity and realized cap for new whales are rising.

  • Key Resistance: Bitcoin is nearing $69,000 resistance point.

  • Future Surge: Historical halving trends suggest a potential price increase to $156,000 by May 2025.

Related: Bitcoin Whales Trigger Unusual Activity: Key Questions Arise

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results