Bitcoin saw a notable uptick of up to 1.1% in price during the 90-minute presidential debate between Donald Trump and Joe Biden, reflecting shifts in prediction markets favoring Trump's candidacy.

Prior to the debate, Bitcoin was trading at approximately $61,439. As the debate progressed, the cryptocurrency surged to as high as $62,152 before settling back to $61,362 at the time of writing, according to TradingView data.

The momentum in Bitcoin's price coincided with a significant movement in prediction markets, where Trump's odds of winning the presidency surged, contrasting sharply with Biden's declining chances. PredictIt data illustrated a marked shift, with Trump's odds rising from $0.53 to $0.63, while Biden's fell from $0.48 to $0.37, widening the gap between them by 26 points.

Criticism of Biden's performance on social media was swift, with commentators, including Trump himself, highlighting instances where Biden appeared to struggle with coherence and left sentences unfinished. Trump quipped, "I really don't know what he said at the end of that sentence, I don't think he knows what he said either," in response to Biden's remarks on immigration.

Despite crypto's absence from the debate discussion, it remains a contentious election issue. Trump has pledged to end what he termed Biden's "war on crypto" if elected, emphasizing his intent to position the U.S. as a global leader in crypto technology. Conversely, Biden vetoed a resolution in June aimed at repealing an SEC accounting guideline that restricts banks from holding crypto assets on their balance sheets. He cited concerns for consumer and investor protection as reasons for his decision.

The upcoming elections on November 5 will likely continue shaping the regulatory landscape for cryptocurrencies in the United States, with developments in prediction markets and candidate positions influencing market sentiment and investor behavior.