Donald Trump

Bitcoin

With the U.S. presidential election just days away, market watchers anticipate a volatile period for Bitcoin. Pseudonymous trader Daan Crypto Trades recently <a href="https://x.com/daancrypto/status/1853180852689313900?s=46&amp;t=MuRujqZUAz3TQE1vmr3c6A" rel="noopener noreferrer nofollow">remarked</a> on the <a href="https://thecoinrise.com/tether-ceo-calls-for-u-s-to-step-up-on-crypto-regulation-amid-election-buzz/" rel="noopener noreferrer nofollow">looming influence of the election</a>, suggesting that Bitcoin’s price could move by at least 10% based on the election outcome. At present, Bitcoin sits around $68,682, slightly down over the past day.
In the days leading up to November 5, Bitcoin’s volatility index surged to a three-month high, according to crypto derivatives data from Deribit. Bitcoin came close to an all-time high just last week, briefly reaching $74,649 on October 29, before retreating as election uncertainty weighed on market sentiment.
Analyst Tony Sycamore of IG Markets noted in a November 4 report that Bitcoin needs to break through the $74,000 resistance level to sustain its upward momentum. He added that a drop below $65,000 would likely mark a return to the bearish trend that has dominated Bitcoin’s price movements for the past seven months.
<h2 id="span-style-font-weight-400-candidates-bring-contrasting-crypto-agendas-span">Candidates Bring Contrasting Crypto Agendas</h2>
Investor sentiment toward Bitcoin is markedly influenced by the starkly different crypto stances of the two leading candidates. <a href="https://thecoinrise.com/donald-trump-eyes-robinhood-clo-to-lead-us-sec/" rel="noopener noreferrer nofollow">Donald Trump has emerged as the more crypto-friendly</a> candidate, with his promises to protect and stimulate the U.S. digital asset industry. Trump’s approach appeals to the pro-crypto segment of the electorate, who view his re-election as a potential tailwind for Bitcoin and related assets.
Kamala Harris, on the other hand, has avoided any in-depth commentary on cryptocurrency until recently. In a late-September statement, she indicated a willingness to encourage investment in both AI and digital assets but has otherwise remained silent on concrete crypto policies. Her cautious stance leaves some market participants uncertain about how supportive her administration would be toward the crypto sector.
<h2 id="span-style-font-weight-400-interest-rate-cuts-span">Interest Rate Cuts</h2>
Beyond the election, Bitcoin’s outlook remains tied to macroeconomic factors, especially the <a href="https://thecoinrise.com/fed-rate-cut-boosts-appetite-for-crypto-and-these-coins-will-benefit-most/" rel="noopener noreferrer nofollow">Federal Reserve’s trajectory on interest rates</a>. Following a significant 50-basis-point rate cut in September, further rate reductions appear likely. Such cuts are often seen as bullish for digital assets, as lower rates tend to diminish the appeal of traditional, safer investments like bonds.
With both the election and potential rate cuts around the corner, Bitcoin traders are bracing for a tumultuous period, with major price swings anticipated based on how these two key events unfold.
The post <a href="https://thecoinrise.com/bitcoin-braces-for-volatile-move-as-u-s-election-nears-analysis/" rel="noopener noreferrer nofollow">Bitcoin Braces for Volatile Move as U.S. Election Nears: Analysis</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bitcoin Braces for Volatile Move as U.S. Election Nears: Analysis

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