The crypto market is expected to experience high volatility in the next 24 hours, Tehnobit CEO Alexander Peresichan believes.

"We can expect several attempts by Bitcoin to break through resistance levels in the region of $76,500 and possibly $78,000. But after a period of growth, traders will obviously start selling the asset en masse to take profits, which will lead to a correction in its value to $72,000-70,000," the expert predicts.

Cohen explained his forecast by the fact that until Trump's inauguration on January 20, 2025, the current President Joe Biden, the Democratic administration, and Gary Gensler as the Chairman of the SEC remain at the helm of the United States. All lawsuits against various cryptocurrency projects are still in force, and the Democrats' repression of the industry may continue.

According to the trader, greed and euphoria are currently pushing the market up, but this will end after the Fed meeting on November 7. The rate will obviously be reduced by 0.25%, while the Fed has not yet moved away from a tight monetary policy - its balance is shrinking, and the long-awaited influx of liquidity into the system is not happening, he noted.