Bitcoin’s correction ignited selling in altcoins, which are slipping below critical support levels.
Bitcoin’s (BTC) recovery attempt on Oct. 22 met with solid selling pressure from the bears, pulling the price near $66,000 on Oct. 23. Bitcoin’s pullback led to net outflows of $79.1 million from United States-based Bitcoin exchange-traded funds on Oct. 22. It was the first net negative inflow since Oct. 10, according to Farside Investors data.
Despite the near-term correction, analysts are bullish about a Bitcoin rally after the US Presidential election. FalconX head of research David Lawant told Bloomberg that Bitcoin was “likely to perform well” irrespective of the election outcome.
Crypto market data daily view. Source: Coin360
