On August 14th, brokerage firm Bernstein said in a research report that if Trump wins the US election in November, it will be good for the cryptocurrency market, while Harris' victory will be bad for the market. The report pointed out that bitcoin weakened after Polymarket odds and polls turned in favor of Harris, and bitcoin is expected to remain range-bound until the election becomes clear. Trump, who has been outspoken about his crypto policy and has engaged with companies in the industry, bitcoin miners, and the wider community, has also promised favorable support for bitcoin and crypto innovation in its policy, even mentioning the possible establishment of a national bitcoin reserve.