Bitcoin price trades below $70,000 as traders derisk ahead of the election. Will altcoins follow this trend or take advantage of BTC's consolidation?
Data hints that there is a strong possibility that Bitcoin (BTC) may create a new all-time high this week. The United States Presidential elections and the Federal Reserve’s interest rate decision are two events that are expected to boost volatility.
Pseudonymous trader Daan Crypto Trades said in a post on X that Bitcoin will see “at least a 10% move in either direction depending on who wins the election.”
Investors have maintained a bullish stance going into the elections. CoinShares’ Digital Asset Fund Flows Weekly Report shows that investors pumped $2.2 billion into digital investment products last week, with Bitcoin garnering the lion’s share of the inflows.
