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<ul class="wp-block-list news-points">
 <li><strong>Bitcoin whales reduce activity, reflecting caution with the U.S. election and market volatility.&nbsp;&nbsp;</strong></li>
 <li><strong>Whale activity shifts from August accumulation to October profit-taking as Bitcoin nears peak.&nbsp;&nbsp;</strong></li>
 <li><strong>Key Bitcoin support level at $68K as analysts warn of volatility amid FED and election impact.</strong></li>
</ul>
<p>As the U.S. readies for the high-stakes election announcement this week, crypto traders expect heightened market activity, especially in Bitcoin trading. Data from Santiment shows that large Bitcoin holders are scaling back on transactions.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><a href="https://x.com/santimentfeed/status/1853358018215170339" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" width="583" height="746" src="https://coinedition.com/wp-content/uploads/2024/11/image-1.png" alt="" class="wp-image-539577" srcset="https://coinedition.com/wp-content/uploads/2024/11/image-1.png 583w, https://coinedition.com/wp-content/uploads/2024/11/image-1-234x300.png 234w, https://coinedition.com/wp-content/uploads/2024/11/image-1-380x486.png 380w, https://coinedition.com/wp-content/uploads/2024/11/image-1-70x89.png 70w, https://coinedition.com/wp-content/uploads/2024/11/image-1-348x445.png 348w, https://coinedition.com/wp-content/uploads/2024/11/image-1-193x247.png 193w, https://coinedition.com/wp-content/uploads/2024/11/image-1-188x240.png 188w, https://coinedition.com/wp-content/uploads/2024/11/image-1-129x165.png 129w, https://coinedition.com/wp-content/uploads/2024/11/image-1-165x211.png 165w, https://coinedition.com/wp-content/uploads/2024/11/image-1-55x70.png 55w, https://coinedition.com/wp-content/uploads/2024/11/image-1-59x75.png 59w" sizes="(max-width: 583px) 100vw, 583px"></a>
  <figcaption class="wp-element-caption"><strong><em>Source: <a href="https://x.com/santimentfeed/status/1853358018215170339" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></em></strong>
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<p>Historically, increased whale transactions have signaled potential price reversals in the crypto market. However, Santiment data indicates that the current cautious whale behavior doesn’t necessarily predict a downturn but rather reflects a careful approach in response to anticipated market shifts.</p>
<h2 class="wp-block-heading" id="h-whale-activity-and-market-sentiment">Whale Activity and Market Sentiment</h2>
<p>In August, a shift in whale activity was observed when Bitcoin was around $50,000. According to Santiment, this rise in transaction volumes coincided with an increase in Bitcoin’s price over the following months.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdkUQ8h6r6xTEmzMh2Vbne84-YJT8-sxnHJ253tbSf_2Z19eWlTy8rb4tH2zT6ndpgV_69xXTPqzfyJQFgjGMwCE5qlPQsr3vVh4cNaocjlbeiz1fMVSNm05MpJ28XmHfJUTzSKavjsawcREULNPfvdfPnw?key=7wfIt9HOcq2Sda96cY9wRrD_" alt="">
  <figcaption class="wp-element-caption"><em><strong>Source: </strong></em><a href="https://x.com/santimentfeed/status/1853358018215170339" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Santiment</em></strong></a>
  </figcaption>
 </figure>
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<p>By late October, however, the trend reversed.…</p>
<p>The post <a href="https://coinedition.com/crypto-sentiment-shifts-as-u-s-election-nears-bitcoin-analysis/" rel="noopener noreferrer nofollow">Crypto Sentiment Shifts as U.S. Election Nears: Bitcoin Analysis</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Crypto Sentiment Shifts as U.S. Election Nears: Bitcoin Analysis

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