Analyst: US election may trigger bond market collapse, affecting assets such as Bitcoin

Odaily News Analysts at Presto, a trading and financial services company, said the U.S. election could trigger a collapse in the bond market, which would also have an impact on other assets such as Bitcoin. Jones said that in the current risk environment, he is bullish on Bitcoin, gold, commodities and Nasdaq stocks. Analysts believe that both Republican candidate Trump and Democrat Harris have pledged "fiscal profligacy," leading to rising levels of government debt, which has increased the risk of a bond market collapse. In addition, the Bitcoin Act of 2024, which is currently awaiting approval from Congress, may help stabilize U.S. debt and may even stabilize the global financial system. (The Block)