Today could be a pivotal moment for Trump and Harris.
If they win, they can continue to stay on the political stage; if they lose, they may have to retire early and hand the reins over to their opponents.
But speaking of our friends in the crypto circle, this U.S. election is really not a significant turning point. To put it simply, it's just news, with a bit of influence that can stir up market sentiment, but it absolutely cannot determine the real rise or fall in the crypto market.
Some people have already started to make wild guesses, saying that once Trump takes office, crypto prices will rise from 75,000 to 150,000. This is purely nonsense! Once the news is out, can the crypto market really suddenly generate over 400 billion dollars in funding? At most, the news will push things a little, and if the price can touch 71,000, that would be impressive.
From the daily chart, we can see that there have been continuous large bearish candles recently, with funds flowing out. This could be due to risk aversion or perhaps the big players are offloading in large quantities. The moving averages have all crossed down, and the MACD lines are trending down as well. Although the bearish force is slightly weaker today, there are still no signs of a reversal. The short-term resistance is around 70,300, and the support is around 67,000.
Currently, there are particularly many people going long, which is clearly new traders making erratic moves. After a slight drop, they rush to put everything in; isn't that seeking death! During this time, Buffett has been reducing his Apple stock holdings, holding 230 billion dollars in cash. Do you think he is preparing to use the money for retirement or waiting for a crash in the U.S. stock market to buy the dip? He is a stock god after all, and that title is not given for nothing.
Currently, Bitcoin is in a state of oscillating downward, and the upcoming U.S. election and Federal Reserve rate cuts mean that the market is facing another major turning point. In this situation, it is most suitable to lay out potential altcoins! I have carefully selected a cryptocurrency that is expected to triple in the short term and five to ten times in the long term. Leave a comment + like for a free share!
