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Will Trump honor his crypto-focused promises? How will he court the crypto community?
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Bitcoin Retest Completed: One Thing Left For $110,000 By December Bitcoin's price movement last week showed its volatility. Bitcoin's price data shows that it has retested the negative trendline that has capped its advances since March. Analysts said the only thing left is a weekly body closure. Bitcoin's price movement may rise into new territory after this closure. Complete Bitcoin Trendline Retest Technical analysis suggests a Bitcoin price breakthrough from a resistance trendline in mid-October. The coin broke over $68,000 for the first time in three months, but a consolidation signaled the work was still ongoing. Bitcoin began the just ended week well. In particular, BTC rose from $66,900 on October 27 to $73,540 on October 29. A 10% rise in two days. This was enough to shatter this resistance trendline. Bitcoin broke out and verified a retest phase, according to. On the weekly candlestick chart, the analyst saw a breakthrough. Bitcoin first broke out over $47,000 in February 2024, as seen in the price chart below. On the weekly timeframe, Bitcoin's rise to $73,737 on March 14, its correction to $49,800 on August 5, and its recent return above $73,000 have all been part of one large breakout and retest move that has lasted 38 weeks. Bitcoin: What Next? This series of price changes shows Bitcoin's resiliency and traders' bullishness. He expects the crypto to continue its positive trend. By December 2024, the analyst predicted a price hike of $90,000–$110,000. This represents 32% and 62% returns from the $68,000 breakthrough. E also stated that the price must complete the week in the green zone to confirm this run. #NovCryptoOutlook #BTCMiningRevenue #USEquitiesRebound $BTC
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Expect Solana to Reach $200 ‘If It Holds Current Support’ After falling from local highs at $183, Solana (SOL) is approaching a significant demand level of $163. This price is crucial support that might affect SOL's price behavior. Losing this level might signify a larger slump, increasing selling pressure and pushing SOL back to lower support levels. However, leading analyst Daan released a technical analysis showing that SOL might return if it holds this “green zone” around $160. In the best-case scenario, SOL might maintain this support and gradually advance to test the downtrend line that has held it back, according to Daan. This setup would maintain SOL's bullish structure, offering investors a rebound entry opportunity. With the crypto market volatile and Solana at this critical level, the next few days are key. SOL may return to recent highs if this demand zone supports a reversal, traders and investors are monitoring. Solid Solana Despite Uncertainties Despite market turbulence and uncertainty, Solana (SOL) has held above $160, a critical support level. SOL's price structure depends on this high demand zone, which might support the next upward trend. Crypto researcher Daan recently said that SOL's “most bullish case” is to maintain this “green zone” at $160, letting it to gradually grind back up toward the declining trendline that has limited recent advances. Daan believes the next try at this trendline might break out and drive SOL past $200. He advises cautious investors to wait for breakout confirmation since there is still possibility for upside following a reversal. His research suggests SOL may rebound, viewing this accumulation zone as a purchasing opportunity. But Daan admits there's still negative danger. If SOL falls below $160, a deeper decline may push it below support levels. To determine SOL's short-term trend, the market will carefully monitor this support level. Holding above it would indicate strength and allow a rebound, while a collapse might prolong the negative period. #SOL $SOL
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21Shares files S-1 for XRP ETF amid Ripple-SEC dispute 21Shares and two other investing companies filed for an XRP ETF. Crypto community members discuss XRP ETF acceptance after SEC appealed Judge Torres's Ripple judgment. The ETF's approval may depend on the US presidential election. 21Shares registered an XRP ETF S-1 with the SEC on Friday. The present SEC administration is unlikely to approve, but the elections might alter that. 21Shares ETF registration boosts institutional interest in XRP. Friday's S-1 registration declaration by 21Shares added it to the roster of US spot XRP ETF applicants. The 21Shares Core XRP Trust tracks XRP's current price without giving investors direct access. The Trust will use the CME CF Ripple Benchmark to list on Cboe BZX. The Coinbase Custody Trust Company will also hold it. 21Shares XRP ETF filing joins Bitwise and Canary Capital as the only asset managers working on institutional cryptocurrency products. Crypto community are worried that the XRP ETF application may be denied owing to SEC-Ripple conflict. The regulator challenged Judge Analisa Torres' judgment that Ripple's XRP sales were not securities offers, which ordered the company to pay a $125 million fine, lower than the SEC's $2 billion demand. Before the SEC appealed, many saw this as a significant success for the firm and crypto sector. Crypto aficionados are already anticipating the elections, with many backing Donald Trump. The Republican nominee vowed to replace SEC Chair Gary Gensler if elected President, which might speed up XRP ETF certification. Trump and Republicans have promised clear and progressive crypto regulation to win votes. Democratic candidate Kamala Harris and her party have not taken a clear position on the digital asset market. #xrp #GrayscaleXRPTrust #NovCryptoOutlook $XRP
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Bitcoin Net Taker Volume Is Bullish – Analyst Bitcoin will conclude a tumultuous week with an attempt to shatter its all-time high (ATH) and a pullback to weaker demand. Even with this downturn, market sentiment is bullish. CryptoQuant data shows that all exchanges' Net Taker Volume (SMA-24H) is positive, as purchasing pressure exceeds selling pressure. This pattern shows investor confidence, which matches the recent U.S. election outcomes, which have boosted crypto market optimism. Bitcoin analysts expect a rise due to retail and institutional purchases. The data shows that although Bitcoin faces short-term difficulties around its ATH, fundamental demand supports additional climb. With the election still unfolding and Bitcoin's price stabilizing above critical demand zones, the following days will determine its next significant move. Demand and exchange bullishness will determine if Bitcoin can regain its upward momentum and enter price discovery. Bitcoin Prepares For Week Of Volatility Bitcoin is about to enter one of its most crucial weeks, with key events that might impact market mood for the year. The US election on Tuesday and the Federal Reserve's interest rate announcement on Thursday will make BTC and the crypto market risky. Famous analyst and investor Axel Adler just published X data that bodes well for Bitcoin. His study shows that all exchanges' Net Taker Volume (SMA-24H) balances aggressive purchase and sell orders. This indicator shows bullishness, with purchasing desire surpassing selling pressure. This data implies purchasers are prepared for a price spike, boosting BTC's optimistic outlook for this crucial week. However, Adler notes that novel ATH pathways are unknown. The Net Taker Volume suggests an increasing trend, but this week's events might exacerbate volatility. Such incidents have caused dramatic market responses, rendering BTC prone to sudden price fluctuations. BTC might surge if the Fed cuts rates or elections embrace crypto-friendly policies. #BTC #16thBTCWhitePaperAnniv #NovCryptoOutlook $BTC
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