Bitcoin price fell due to risk-off sentiment and political uncertainty, impacting Ethereum and altcoins.

From Investing.com

July 25, 2024 2:22:34 am:

Bitcoin price fell amid broader risk-off sentiment and speculation over the U.S. presidential election. Ether also saw losses as traders overlooked spot ETF launches in the U.S. Risk sentiment was hit by Wall Street’s tech stock sell-off. Bitcoin dropped 2.4% to $64,265.0.
Bitcoin faced uncertainty over the U.S. presidential race, as Joe Biden withdrew and endorsed Kamala Harris. Harris polled better against Trump and supported strict financial regulations. Harris’s refusal to speak at the Bitcoin Conference drew backlash from crypto advocates. Trump’s pro-crypto stance boosted market sentiment.
Bitcoin’s price was further impacted by Mt Gox moving more tokens onto exchanges ahead of distributions. Mt Gox’s token movements and potential sell-offs weighed on Bitcoin’s value. The defunct exchange’s return of stolen tokens from a 2014 hack has been a key factor influencing Bitcoin’s price.
Ether tumbled 7.7% to $3,117.61 despite ETF launches in the U.S. market. Altcoins like Binance Coin, Cardano, and Solana saw minor fluctuations. Memetokens like Dogecoin and Shiba Inu also experienced price drops. ETF trading volumes for altcoins were lower compared to Bitcoin, showing less investor interest.

Read more at Investing.com: down to $64k amid risk-off rout, political uncertainty By Investing.com