BTC Price Plateaus, but Data Fiends Lurk
In the wild west of crypto, Bitcoin’s taking a chill pill just shy of the U.S. election. Ten days out, BTC’s holding ground at $68,000 after dabbling near $70,000. While the top crypto asset drifts on a modest 0.8% day bump and 0.5% week gain, speculators are peeking over the fence. U.S. inflation and job figures coming next week are the big cats in the room, primed to shake things up, say the hawk-eyed analysts.
Valentin Fournier of BRN pegs BTC’s vibe as one of accumulation—signals abound that Bitcoin’s parked in prep mode, likely settling at around $67,500. “After reaching a high of $68,850, Bitcoin corrected slightly towards the day’s end but maintained a strong price level,” Fournier quipped in a note passed to Decrypt. A tight consolidation phase may just be the spring BTC needs to ricochet, according to Fournier’s frame.
Market Whisperers Prep for Post-Election Shakeup
A dip after a pop? Hardly scandalous in the crypto-sphere. Bitbank’s chart-wizard Yuya Hasegawa shrugs off BTC’s little slip as classic playbook stuff. “From a technical perspective, a little bit of pull back after a breakout is in line with the textbook, and the market should not be too disappointed by this week’s price action,” Hasegawa dropped in a memo. Pullbacks post-pushes keep BTC chasers on their toes but steady on their game.
Volume’s no snoozer either. In the past 24 hours alone, $30 billion in BTC has flowed, signaling big interest while Bitcoin’s price takes a breather.
Election Buzz, Data Surge: Market’s Perfect Brew
Now, Halloween’s not just spooky—it’s got the U.S. personal spending report as a ghastly sidekick. A mere day later, on November 1, the jobs report hits, a data one-two punch that the Fed will watch before its November 7 rate verdict, set just two days after election mayhem.
The political scorecard is only hyping it further. Kamala Harris and Donald Trump find themselves neck-and-neck, with Polymarket action heating up. A lone whale dropped $2 million on Harris, spiking Polymarket’s election bets to $2.4 billion. That’s got the site’s big bettors under the microscope, facing scrutiny as stakes pile high.
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