Bitcoin began the new week trading around $67,000, showing a sideways trend. With no major data releases expected, this week is likely to be calm on the economic calendar. However, investors are focusing on the upcoming U.S. elections, which could significantly impact the markets. #BinanceBlockchainWeek 
Increase in Whale Activity
This week saw a notable increase in whale activity, with whale activity rising to +14. This level, being above 10, is a positive signal, indicating increased participation from large investors.
Coinbase Purchases and Spot CVD
While the Spot CVD hasn’t yet shown a clear uptrend, Coinbase purchases continue. This suggests that investors are taking a wait-and-see approach, likely due to the upcoming election, but this buying activity could form a positive foundation for future price increases. #Binance
Funding Rates and Liquidation Levels
Funding rates remain at normal levels with no strong short or long pressure in the market. This contributes to a balanced price movement. In terms of liquidation levels, long liquidations are concentrated around $65,000, while short liquidations are dense near the $70,000 level. #Moonbix
Descending Trend Resistance and U.S. Elections
The primary reason for Bitcoin’s recent sideways trend is believed to be the U.S. elections. Currently, the price hasn’t broken through the descending trend resistance as investors seem to be waiting for the election results. With only 8 days left, this outcome is seen as a key factor for the market. If Trump wins, we might see a clearer upward movement, with the descending trend possibly breaking. #USJoblessClaimsDip
Expectations for Next Week
As the election results will be revealed next week, we’ll have a clearer market outlook. For now, watching the descending trend resistance and following the mentioned data points should suffice.
Wishing everyone a profitable and positive week ahead! $BTC