Bitcoin Dips as Harris and Pro-Crypto Trump Clash in Debate

Trump and Harris had a televised showdown in Philadelphia
Investors are trying to evaluate who gained the upper hand

Donald Trump and Kamala Harris on screen during a debate watch party in Fayetteville, North Carolina, on Sept. 10.Photographer: Allison Joyce/Bloomberg

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By Suvashree Ghosh

September 11, 2024 at 1:51 AM UTC

Updated on

September 11, 2024 at 2:08 PM UTC

This article is for subscribers only.

Bitcoin slid as investors reacted to the US presidential debate between Democratic nominee Kamala Harris and Republican rival Donald Trump, who has embraced the crypto sector.

The digital asset fell as much as 3.4% before paring some of the drop to trade at around $55,850 as of 10:04 a.m. Wednesday in New York. In wider markets, stocks fell and bond yields rose after a faster-than-anticipated inflation report reinforced speculation the Federal Reserve will start cutting rates at a more gradual pace.