An interview between Elon Musk and Republican presidential candidate Donald Trump attracted over 1 million listeners on X.Crypto was not mentioned during the two-hour long event.Over two hours, the wide-ranging interview covered a variety of topics including illegal immigration, the economy, AI and global warming.
On Polymarket, bettors were giving a 65 percent chance of "crypto" being mentioned during the interview, with over $600,000 staked on the topic. The prediction market also added another market to ask bettors about the possibility of "bitcoin" being mentioned, which peaked at 69% with approximately $330,000 on the table.
Bitcoin's Prospects Strengthen as Key Stablecoin Metric Slides to Lowest Level in 18 Months.The dwindling metric points to declining selling pressure in the bitcoin marketBitcoin (BTC) has quickly recovered to nearly $60,000 after a debacle last week that saw prices drop below $50,000 at one point.The recovery may have legs, as the "exchange stablecoins ratio," which measures the number of BTC held in wallets tied to centralized exchanges relative to stablecoins, suggests reduced selling pressure.
The ratio has dropped to its lowest since February 2023, extending a prolonged downtrend that began in June last year, according to data tracked by blockchain analytics firm CryptoQuant.
"This could indicate reduced selling pressure on bitcoin as fewer traders are converting their BTC into stablecoins," CryptoQuant told CoinDesk in a Telegram chat.