Bitcoin's Sideways Streak Could Break Amid U.S. Election Uncertainty
Bitcoin has been trading sideways for nearly 300 days, frustrating investors hoping for a rally in late 2024. Despite hitting over $73,000 after April's halving, it remains stuck between $59,000 and $65,000. If this continues, it will be the longest sideways movement post-halving in Bitcoin's history.
Key factors include uncertainty around the upcoming U.S.
election and rising Treasury yields, which are drawing money away from riskier assets like Bitcoin. Additionally, the Mt. Gox repayment delay to 2025 may ease supply pressure in the short term.
For a breakout, Bitcoin needs to surpass $69,000. With the election approaching and October historically being a strong month for Bitcoin, a rally may still happen, but regulatory concerns remain a potential obstacle.
#MarketSentimentToday #Write2earn #Write2Earn! #write2earnđđč #bitcoinâïž $BTC
