Bitcoin's price fell below $107,000 as traders reacted to Polymarket's 93% prediction of Zohran Mamdani winning the New York City mayoral race. Mamdani, a democratic socialist, has led in polls since June and is viewed as a potential threat to corporate interests with his proposed policies, including higher taxes and a $30 minimum wage. Prediction markets show Mamdani with a strong lead over independent candidate Andrew Cuomo. Bitcoin's 24-hour trading volume increased by 104.22% to $68.24 billion, with prices ranging from $105,336.36 to $110,764.92. Analysts suggest the price drop reflects market concerns over potential economic policy shifts in New York.