- Kamala Harris and Donald Trump are now tied at 49% in betting markets after the debate.
- Debate lacked clear economic policies, causing market uncertainty and a possible risk-off move.
- Traders explore yield-earning strategies amid debate-induced crypto market disappointment and CPI focus.
Kamala Harris‘s chances of winning the upcoming election have increased by 4% following the recent debate, according to Polymarket data. Both Harris and Donald Trump now stand at 49% in the betting markets, reflecting the tight nature of this race.
The debate failed to produce a clear frontrunner, with neither candidate offering a decisive economic policy message. Instead, the event was marked by unusual remarks, such as references to ‘eating the dogs,’ which caught public attention but did little to clarify the candidates’ positions on key issues.
QCP Capital notes that the absence of clear policy direction from both parties, combined with the lack of a dominant candidate, has increased the likelihood of a risk-off move in risk assets as Election Day approaches.
The ambiguity surrounding economic policies from both Harris and Trump is fueling uncertainty in the markets. The crypto market, in particular, was left disappointed by the debate, as neither candidate addressed crypto policy, a topic of growing interest among investors.
As the debate’s influence fades, market attention is shifting to tonight’s Consumer Price Index (CPI) release. Analysts expect the CPI to show a 2.55% increase, down from the previous 2.9%. While there is a possibility of an upside surprise, the market impact may be minimal, as investors are now more focused on upcoming unemployment data.
In light of the ongoing uncertainty, some traders are turning to yield-earning structures in bullish scenarios. One such strategy involves earning weekly coupons of 55% per annum, provided that Bitcoin’s price remains above $55,000.
The structure includes a strike price of $50,000 and protection at $45,000, maturing on December 27, 2024. If Bitcoin falls below $45,000 at expiry, the deployed USD will be converted to Bitcoin at the $50,000 level.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
