3 reasons why Bitcoin struggles to hold $64.5K
Bitcoin price surged by 8.2% over the seven days leading up to Sept. 25, rising from $59,886 to $64,816.
Weak macroeconomic data contributed to a decreased risk appetite among investors, but other factors also played a role in sparking a Bitcoin price correction on Sept. 25.
Bitcoin traders are wary that a potential correction in the stock market could negatively impact cryptocurrency performance.
As part of his campaign, Trump has advocated for Bitcoin miners and even spoke at the Bitcoin 2024 conference in Tennessee.
With the US election outcome still too close to call, Bitcoin traders are adopting a cautious stance as the BTC price approaches its highest levels since August.
According to Bitcoin derivatives' primary metric-the futures premium-there has been a lack of enthusiasm for betting on further price increases in recent weeks.
Since Sept. 2, the Bitcoin futures premium has hovered around a neutral 6%, indicating a lack of conviction among bulls.
