🚨 MicroStrategy Hits 6-Month High as Bitcoin Recovers to $63,300 Amid Market Volatility! 🚨

MicroStrategy (MSTR) surged 5.5% to a six-month high, all while Bitcoin (BTC) battled with its critical 200-day moving average. The crypto market experienced a rollercoaster ride with over $215 million in leveraged positions liquidated, affecting both longs and shorts equally.

Bitcoin's price plummeted from nearly $64,000 to $62,800 during Monday’s U.S. trading session, coinciding with a sharp drop in the stock market. The S&P 500 and Nasdaq fell more than 1%, closing the day near their lows, and the volatility index (VIX) spiked 19%, reaching its highest level in a month. Despite this, Bitcoin rebounded to $63,300, marking a 0.7% gain in the past 24 hours, although it still remains down 2% from its daily high of $64,400.

BTC briefly reclaimed its 200-day moving average, which stands at $63,575, but struggled to stay above that key level. A sustained rise beyond this point could reinforce the uptrend that began in early September when Bitcoin bottomed out around $52,000.

Meanwhile, ETC Group, now part of Bitwise, noted that Bitcoin’s recent price surge aligns with growing odds of Donald Trump’s potential win in the upcoming U.S. presidential election. The blockchain-based prediction platform Polymarket now shows Trump with 53.5% odds of victory, up from equal chances last Friday. This political shift could further fuel volatility in the crypto market in the days ahead.

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