CandleFocus US Election Day Boosts Bitcoin to $70,000: Further Rally Ahead?
2024-11-05
Author: Content Editor
Bitcoin's price has reached $70,000 ahead of the US presidential election, highlighting the correlation between major political events and cryptocurrency movements. On-chain analysis suggests that selling pressure is low and the election could be bullish for Bitcoin. Analysts have varying opinions on the implications of the election outcome for the cryptocurrency. Despite recent rejections, bullish momentum could push Bitcoin's price higher, potentially reaching $73,623, but rejection at resistance levels could lead to a decline to $67,405.
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