USA presidential Election 2024 Prediction updated 18.10.202 | niroindi on Binance Square

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Bullish

USA presidential Election 2024
Prediction updated 18.10.2024
as per these sources, Donald trump to be Leading to next USA Leader.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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Bitcoin – How and why short-term holders can push BTC to $75,000 Bitcoin (BTC) was trading at $68,388 at press time after 9% gains within just seven days. On 18 October, Bitcoin hit a two-month high above $68,900, strengthening the market’s optimism for further gains. Several factors aligned together can support Bitcoin’s rally to an ATH. These include the market pricing in the outcome of the U.S elections and high inflows to Spot Bitcoin exchange-traded funds (ETFs). However, short-term holders remain the key to how long Bitcoin will take to reach record highs. Consider this – After Bitcoin spiked to a two-month high, on-chain metrics showed that this cohort started selling. Analyzing short-term holder behavior Data from CryptoQuant revealed an increase in Bitcoin exchange inflows from traders who held Bitcoin for between one and three months. The exchange inflow Spent Output Age Bands for this cohort jumped to a weekly high as BTC approached $69,000 on the charts. This spike can be seen as a sign of profit-taking behavior as short-term traders look to capitalize on the favorable market conditions. The short-term holder Spent Output Profit Ratio further highlighted that these traders have been selling BTC at a profit. Especially since the metric has been above 1 for over a week now. While an SOPR ratio above 1 suggests that the general market sentiment is positive, it could also mean a high likelihood of profit-taking. If Bitcoin’s uptrend shows signs of weakness, this cohort will likely start selling more, causing a price reversal. Besides short-term holders, the other group that could delay a Bitcoin ATH are the 1.9M addresses that bought BTC between $66,900 and $69,200. According to IntoTheBlock, these addresses, at press time, were at a break-even point. Bitcoin is bound to face resistance as it approaches $69,000 as these addresses might start selling once they turn in a profit. #BTC☀ #btc73k

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Bitcoin on edge: Short sellers vs a $86,600 BTC breakout Bitcoin [BTC] price action has been the topic of the week, and recent data from Binance and IntoTheBlock has sparked fresh speculation on the king crypto’s next move. With a significant portion of the market participants going short and a surge in active addresses, there is a lot to unpack. Majority of Bitcoin traders go short According to the Coinglass data, 58.23% of all accounts in Binance with open Bitcoin positions are going short. This reflects very strong sentiment that market participants expect the price of Bitcoin to drop. However, on the other side, such short positioning can also create sudden price jumps when Bitcoin does move against the crowd and forces those traders to cover their positions. Bitcoin trading activity heats up According to IntoTheBlock, Bitcoin’s active addresses surged by 19% to 764.38K in the last 24 hours. This jump in activity often marks increasing interest and participation in the market, which could suggest a potential price move. More active addresses hint at rising demand, adding more weight to the potential upward rally. Bullish liquidity signals a potential upswing. Even with the shorts positions on, liquidity data still depicts a bias to more bullish sentiment. One key price level to watch will be the $68,600 level, where $49.02 million in BTC could get liquidated. This suggest many of market participants are still expecting an upward Bitcoin rally, similar to recent trading activity. $67,400 breakout could spark a rally Bitcoin’s immediate resistance level sits at $67,400. If it price manages break through this significant price level, the next potential target level could be $86,600 according to a renown Crypto analyst. #BTC☀ #BullRunAhead

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Bitcoin supply on exchanges hits 5-year low: BTC to $70k next? Bitcoin [BTC] investors enjoyed much profit last week as the coin’s price surged by double digits. Thanks to the price rise, bullish sentiment around the coin increased, causing a record drop in the supply of BTC on exchanges. Will this propel further price rises? Investors are buying Bitcoin CoinMarketCap’s data revealed that Bitcoin witnessed an over 11% price hike in the last seven days. At press time, the king coin was trading at $67,866.54 with a market capitalization of over $1.34 trillion. In fact, AMBCrypto reported earlier that there were chances of BTC moving above $67k. Thanks to the latest price increase, over 50 million BTC addresses were in profit, which accounted for more than 94% of the total number of BTC addresses. While all this happened, a key BTC metric reached a record low. To be precise, Bitcoin’s supply on exchanges dropped to the lowest in the last five years. A drop in this metric means that investors were buying BTC in anticipation of a further price rise. Therefore, AMBCrypto checked other datasets to find out whether buying pressure was high. Where is BTC headed? AMBCrypto’s analysis of CryptoQuant’s data established the aforementioned fact. Bitcoin’s exchange reserve dropped sharply over the last months, indicating a clear motive of investors to buy the king coin. Long-term holders were willing to hold their coins, which was evident from the coin’s green binary CDD. Things in the derivatives market also looked pretty optimistic. The coin’s funding rate was rising, meaning that long position traders were dominant and were willing to pay short traders. Additionally, Bitcoin’s taker buy/sell ratio indicated that buying sentiment was dominant in the derivatives market. However, US investors were thinking otherwise. This was evident from the low Coinbase premium, meaning that selling sentiment among US investors was dominant. Rising selling pressure could put an end to BTC’s bull rally. #BTC☀ #BTCRally #btcupdates2024 $BTC

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Bitcoin dominance signals overheating – Which ‘dip’ should you target? Two days ago, Bitcoin [BTC] dominance surged to an impressive 57%, following a daily gain of over 5% that pushed BTC above the $66K mark – a level it hadn’t breached in more than 150 days. Now trading at $67,350, Bitcoin has risen over 10% in just one week. This rapid ascent has led analysts at AMBCrypto to speculate whether the market is nearing an overextension. If this is the case, a pullback to a local low could occur before BTC attempts to retest its all-time high. High bitcoin dominance signals overheating In the past week, daily gains exceeding 2% have helped Bitcoin recover from its $60K slump, confirming the level as a new support. Additionally, the surge was reinforced by a rising RSI, indicating strong momentum. Trade volume also spiked to a new local high, signaling increased support from retail investors. As a result, Bitcoin dominance also climbed to a new high. However, this bullish momentum has pushed BTC into “greed” territory, hinting at potential signs of overheating in the market Historically, a shift into greed often coincides with the phase in a cycle where Bitcoin hits a market top, frequently leading to a subsequent price crash. At this stage, many traders exit, doubling down on their gains, while new buyers hesitate, fearing the inevitable correction. Therefore, these traders usually wait for a dip-buying opportunity, capitalizing on the market bottom when Bitcoin dominance resurges. Currently, with Bitcoin dominance at a new high and other signals pointing to a market top, Bitcoin may be primed for a correction. This correction could shake out weaker hands, leaving fresh buyers to take advantage of a potential dip. Bitcoin could retrace to a local low Bitcoin previously faced rejection at $64K, which must be converted into support to signal the potential dip. This scenario unfolds when new interest perceives this price range as an attractive entry point. #BTC☀ #BearishPhase $BTC $ETH

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who is the winner??? current prediction

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