Charted: Bitcoin likes political news

Bitcoin has been walking sideways interminably lately, but two pieces of political/policy news perked up the original cryptocurrency yesterday, and they happened at basically the same time.

• First, presidential candidate Robert F. Kennedy Jr. announced he will give a speech tomorrow about "his path forward."
• Second, the minutes from last month's Fed policy meeting confirmed that September rate cuts looked likely.

What we're watching: Whether or not RFK throws his support behind former president Donald Trump.

• RFK doesn't have a ton of supporters, but in a tight race like this one, every little bit will help.
• The crypto market clearly thinks the former president is a better choice.

What they're saying: "Bitcoin has likely been trading with a correlation to Trump winning. And that makes sense to me," Travis Kling of Ikigai Asset Management, a crypto fund, wrote on X yesterday.

• "Hate it or love it, this election is highly consequential for us."

The latest: BTC is trading below $61,000 today.