Crypto heads are all watching closely as both Bitcoin (BTC) and Ethereum (ETH) hit critical resistance levels. Everyone’s asking: Will they blast through or bounce back? If they smash these barriers, the hype will be unstoppable, and liquidity could flood in. But, caution remains in the air, because no major catalysts are in play yet.
Bitcoin’s price has dropped 2% over the last day to $66,960, while Ethereum took a 3% dip, now trading at $2,630 according to CoinGecko data. However, some crypto analysts are still bullish. They’re betting Bitcoin will pop over the key $70,000 psychological mark by week’s end, although Ethereum’s journey to $2,800 looks tougher.
Political Winds Stir BTC Movement
Maria Carola, CEO of StealthEX, connected Bitcoin’s recent dip with U.S. political shifts, especially the Trump factor. His rising favorability in the election polls may be giving BTC a hidden boost. “Trump’s growing strength just two weeks out from the elections is giving Bitcoin a positive jolt,” she shared in a Decrypt interview.
Even though the polling site FiveThirtyEight shows Trump trailing Kamala Harris (with 48.2% odds vs. his 46.4%), it’s clear that traders are factoring in possible changes in U.S. policies and market sentiment as we inch closer to November. But Carola warns, hitting a new all-time high for Bitcoin isn’t a sure bet anytime soon, especially with other global factors at play—like the volatile Middle East and shifting stablecoin regulations.
Key Resistance Levels: BTC and ETH Face the Music
Singapore-based QCP Capital is also eyeing Bitcoin and Ethereum’s near proximity to resistance. BTC hasn’t topped its July highs, but it’s creeping closer to the $70,000 mark, while ETH is fighting to break $2,800. If they break through, the floodgates could open for retail traders. But without a clear trigger, these assets might just drift within a tight range.
On the flip side, Fairlead Strategies sounds a note of caution. They’ve flagged a counter-trend sell signal for Bitcoin, which could mean consolidation around current prices for a while. Fairlead’s analysts point out that BTC is testing resistance near $67,700, with solid support sitting lower at $59,800. Meanwhile, Ethereum’s resistance around $2,807 could halt its progress, pushing it into a correction if it can’t push through.
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