Bitcoin has been trading within a narrowing range for nearly two weeks as traders await the upcoming US presidential election on November 5. Throughout October, Bitcoin has struggled to maintain momentum above $69,000, with repeated pullbacks to a support zone between $64,000 and $67,000. The uncertainty surrounding the election, particularly over candidates Donald Trump and Kamala Harris, contributes to a cautious market environment. Mixed survey results indicate a close race, where a pro-crypto administration could impact regulations favorably, while ambiguous policies may hinder growth. Additionally, the Coinbase Premium Index shows increased selling pressure from US retail investors, contrasting with significant inflows into Bitcoin Spot ETFs appealing to institutional investors, indicating divergent market sentiments. Bitcoin's price is currently in a consolidation phase after a recent bull flag breakout, with moderate trading volume suggesting traders are waiting for clearer signals before making large commitments. The Relative Strength Index (RSI) around 60 indicates a moderately bullish stance, leaving room for upward movement if volume increases. If a breakout is confirmed, targets can be projected based on technical patterns.

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