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Bitcoin and Ethereum Drop Amidst Market Volatility: Key Factors at Play Today, Bitcoin (BTC) and Ethereum (ETH) have both faced declines, with BTC down about 3.1% to $66,942 and ETH dropping approximately 3.5% to $2,378. Several key factors contribute to this downturn: 1. U.S. Election Uncertainty: With the upcoming U.S. presidential election, market volatility has increased. Speculation over shifting political landscapes and fading re-election chances for certain candidates has created market pressure, impacting crypto prices as investors grow cautious. 2. Rising Liquidations and Selling Pressure: High selling pressure, particularly from short-term holders, coupled with a surge in open interest, has resulted in significant liquidations. Notably, Ethereum saw $55 million in liquidations, and Bitcoin reached $90 million, the highest since August. #USElections2024Countdown 3. Ethereum Underperformance: Ethereum has notably underperformed against Bitcoin, with the ETH/BTC pair at its lowest in over three years. T#his indicates a potential shift in investor preference towards Bitcoin over Ethereum, further contributing to ETH's downward momentum.

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Bitcoin and Ethereum Drop Amidst Market Volatility: Key Factors at Play Today, Bitcoin (BTC) and Et

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Italy is planning a major increase in its cryptocurrency capital gains tax from 26% to 42%, led by finance minister Giancarlo Giorgetti. This move aims to raise €16.7 million annually and comes amid wider global trends of increasing crypto regulation and taxation. If implemented, the tax hike could discourage Italian crypto investments and possibly set a precedent for other European countries, impacting investor strategies across the region.$BTC

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Pre-Election Spike: Investors are pouring funds into Bitcoin ETFs, betting on crypto-friendly polici

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Election-Driven Investments: Investors are heavily investing in Bitcoin ETFs ahead of the U.S. elect

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Ultime notizie

Lugano Issues Third Digital Bond Worth $139 Million

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Reserve Bank Of Australia Maintains Interest Rate At 4.35% For Eighth Consecutive Meeting

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Bitcoin Spot ETF Sees Significant Outflow in the U.S.

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Cryptocurrency Market Maintains Greed Status

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Bitcoin Mining Companies Report Record Production In October

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