of The price of Bitcoin With 10 days to go until the United States presidential election, it seems calm has settled. Analysts are now looking to next week's inflation figures and jobs as the next big boost for BTC's price action.
After testing the $70,000 level earlier this week, Bitcoin eased slightly and is now around $68,000, up 0.8% on the day and 0.5% on the week, according to CoinGecko.
“Bitcoin corrected slightly at the end of the day after pushing above $68,850, but maintained a strong price level,” BRN analyst Valentin Fournier said in a note shared with Decrypt. “This suggests a level of consolidation around $67,500, which paves the way for further price increases.”
According to Yuya Hasegawa, a market analyst at Japanese crypto exchange Bitbank, the price is expected to drop back slightly.
“From a technical perspective, a slight pullback after the breakout is in line with the textbook and the market should not be too disappointed by this week's price action,” he wrote in a note shared with Decrypt.
The world's oldest and largest cryptocurrency by market capitalization, BTC, worth $30 billion, has seen a change in the past 24 hours, CoinGecko data shows.
Bitcoin braces for the coming week
Next week, Hasegawa said traders will expect the personal spending report—due on Halloween or Oct. 31—and the jobs report on Nov. 1.
In addition to these reports, the Federal Reserve will make a decision on interest rates on November 7 – two days after the presidential election.
As of yesterday, Vice President Kamala Harris and former President Donald Trump are still very close in the polls. FiveThirtyEight has Harris slightly ahead, 48.1% to Trump's 46.4%.
On crypto betting Polymarket, a whale recently placed a $2 million bet on Harris to win. Not long ago, there were reports that the platform's biggest bettors, which reached $2.4 billion in the election, are facing more internal scrutiny.
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