Bitcoin is attempting to rise after testing the $63,000 level, with traders focused on Mt. Gox payouts and political developments. Reports suggest that President Biden may step down, potentially leading to cautious trading. If Kamala Harris is not the Democratic nominee, market volatility could increase. Long liquidations around $62,000 could trigger a squeeze if Bitcoin reacts negatively to political news or fails to surpass $66,000.

Retail interest in Bitcoin is at a three-year low, similar to a pullback in 2021 before a new all-time high. Speculation includes Trump potentially introducing Bitcoin as a strategic reserve asset and JD Vance’s support for cryptocurrency initiatives. The Long vs. Short ratio is rising slightly, which may not favor Bitcoin, but the ongoing Wyckoff pattern suggests we are mid-pullback before a new ATH.

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