Bitcoin has stabilized around $68,000 as the U.S. presidential election approaches, having receded from a peak of $70,000 earlier in the week. Analysts expect the upcoming inflation and jobs reports to impact BTC price movements. Although Bitcoin corrected slightly from a high of $68,850, it showed resilience, suggesting a potential accumulation phase at $67,500. Market observers note that this price pullback is a typical correction following a price breakout. With $30 billion worth of Bitcoin traded in the last 24 hours, traders are focusing on the significant economic reports set for release soon, including the personal spending report on Halloween and the jobs report shortly after. The Federal Reserve’s interest rate decision, anticipated shortly after the election, could also influence market dynamics. Polls currently show a tight race between Vice President Kamala Harris and former President Donald Trump, adding to the market’s uncertainty as traders prepare for potential volatility driven by these external factors.

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