CandleFocus As U.S. votes, Bitcoin flirts with $70k — which way will it break?
2024-11-04
Author: Content Editor
The crypto market is eagerly watching Bitcoin's price as it approaches the critical $70k mark, with the U.S. presidential elections and an upcoming Federal Reserve meeting adding to the anticipation. Bitcoin briefly reached $73-74k but was pulled back by bearish sentiment. The election outcome, especially a Trump win, is seen as potentially bullish for crypto. Bitcoin has historically rallied after U.S. elections, and some analysts argue that a long-term rally could be in the cards. Other factors that could drive Bitcoin's price include U.S. jobless claims data and the possibility of a Fed rate cut. The current market environment remains fragile, however, and caution is advised.
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