Although there will be significant fluctuations in price in the coming days, it has little to do with the data itself, and even the purchasing power is not much related. The key still lies in the expectations and results of the U.S. election. If the expectation of Trump winning rises, then #BTC's price may rebound; if Harris wins the election, then BTC will likely pull back in the short term, and the results are consistent.
So it is clear that the recent price fluctuations are all expectations for the election results, but fortunately, there isn't much time left, and the results will likely be announced around the 6th or 7th, so everyone won't have to stay up anymore. Today, I will write another piece on the election topic, and it's almost done, I should be able to post it during the day, hoping to address many friends' questions regarding the election.
Looking back at BTC data, as mentioned earlier, the current turnover reflects users' emotions about the election. However, most of these users are short-term investors who are at a loss; they are either disappointed in Trump's victory or are simply financial investors. Meanwhile, short-term profit investors and early investors maintain very low turnover, which is why I say that the election results, regardless of what they are, will have a short-term impact on the market.
From a support perspective, there is still strong resilience from $64,000 to $69,000. Currently, there are no visible risks. Of course, the support in concentrated areas of intensive chips is unlikely to withstand the decline in sentiment. After Harris's election, there is a possibility that BTC price may fall below $64,000, but as long as this support remains intact, there is still a high probability of a rebound.
Data has been updated, address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing
This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX
