Lula wins Brazil election as dollar seen at R$5.60, lifting Bitcoin price in reais
- —Lula took 51.74% versus 48.26% for Flavio Bolsonaro with 97.69% of ballots counted
- —The dollar closed Friday at R$4.993; analysts expect R$5.40–5.60 on Monday
- —79% of 73 fund managers surveyed by Citi expected Ibovespa to fall more than 5%
- —After the first round, stablecoin volume on Brazilian exchanges hit R$2.33 billion in 24 hours
Why it matters: A weaker real directly raises Bitcoin's local price, and the FX open will set the tone for Brazil's crypto market this week.
Source: BeInCrypto BR