Bitcoin has been moving in a narrow price range for the past few hours and is currently fluctuating between $69,000 and $70,500. Meanwhile, while the market eagerly awaits the election results, all eyes are on the interest rate decision. Both developments could lead to significant fluctuations in the cryptocurrency market, and it remains uncertain how Bitcoin will fare in the short term. During this process, it is important for investors affected by the uncertainty in Bitcoin to be careful and be prepared for a possible change in direction.
Record Increase in Solana Network$SOL
Solana has been the scene of great activity in the crypto world in recent days. Experts state that the daily on-chain transfer volume of the Solana network has reached $224 billion. This amount is almost three times the market value of Solana and demonstrates the strong liquidity and increasing adoption of the network. In addition, this record transfer volume shows that Solana has achieved significant success in scalability. These developments strengthen Solana’s place in the crypto ecosystem and could potentially support further growth of the network.
Price Movement in Bitcoin$BTC
The analysis for Bitcoin provides remarkable clues about how price movements will shape in the coming period. Stockmoney Lizards stated in its latest assessment that the $66,800 level is an important bottom level. However, it warned investors that this level is a bottom that has not yet been confirmed and that new pullbacks towards this level may occur in the coming hours. The price of Bitcoin may show significant changes depending on the election results and interest rate decisions, so these developments may create volatility in the market.
Daan Crypto Trades has identified two critical levels for Bitcoin: $61,600 and $74,000. These levels provide important signals for Bitcoin’s future direction. After the election results, it seems likely that one of these levels will be broken in the near future. How Bitcoin’s price will move between these levels is being closely monitored by market participants.
Bearish Expectations for Ethereum (ETH)$ETH
As for Ethereum, experts expect the price to fall further. ETH appears to be an asset that is more affected by negative movements in the market. Ethereum's market dominance is currently below 13%, and it is predicted that this rate could fall to 9% in a negative market environment. This situation is a worrying factor for Ethereum investors, and a possible weakening could negatively affect ETH's future performance.