Bitcoin is finding support in the $66,500 to $65,000 zone and Bitcoin ETF inflows suggest traders are buying the dips. Will altcoins follow?
Bitcoin (BTC) has slipped below $67,000 after closing last week above $69,000, its strongest close since the start of June. However, the fall has not scared away the investors. According to Farside Investors data, United States-based Bitcoin exchange-traded funds witnessed inflows of $294.3 million on Oct. 21.
Usually, after the price spends a long time in a range, it needs a strong trigger to break out from the sideways price action. The upcoming United States elections could act as a catalyst for a new trending move in Bitcoin. Many believe that a victory by the former US president and Republican nominee Donald Trump could propel Bitcoin higher.
Daily cryptocurrency market performance. Source: Coin360
