Bitcoin It is on the verge of the longest sideways price move, disappointing bulls who were expecting a significant rally before the end of the year.
Bitcoin Poised for Record Sideways Move, November Elections May Be Key Bullish Catalyst
With US elections approaching and US Treasury yields rising, the cryptocurrency’s stagnant performance has been attributed to a variety of macroeconomic factors, including political uncertainty and market conditions.
As of Friday, Bitcoin’s price since its halving in April 285 days passed and prices $59,000 to $65,000 fluctuates between.
According to CryptoQuant founder Ki Young-Ju, if there is no major price increase in the next two weeks, it will be the largest price increase since previous halvings. longest horizontal market will have happened.
Typically, halving events in which Bitcoin’s block rewards to miners are reduced trigger significant bull markets, with the value of the asset historically increasing by several hundred percent in the months that follow.
But this year the market has remained largely flat, with some experts calling it a potential catalyst. US elections he pointed out. Republican candidate Donald Trumpis seen as crypto-friendly, especially due to its affiliation with decentralized finance project World Liberty Finance.
In contrast, the Democratic Party is perceived as less favorable to the crypto market. Since market sentiment is typically in line with political events, a Republican victory could fuel optimism and send Bitcoin higher.
In the short term, traders are also watching movements in US Treasury yields, which affects the broader financial market and contributes to Bitcoin’s sideways movement.
head of insight at SOFA Augustine Fanrising bond yields and stock market gains US dollar He stated that it helped to rise and put downward pressure on crypto prices.
Fan also, defunct Mt. Gox delay in repayments of the stock exchange, at least October 2025He stated that it had eased some of the potential supply pressures on Bitcoin by .
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/cryptoquant-kurucusu-ki-young-juya-gore-bitcoinde-iki-hafta-daha-yukselis-gelmezse-bu-olay-gerceklesecek/
