BTC Dips Below $69,000 as US Presidential Election Day Looms
In the meantime, BTC continued its development downward regardless of spectacular US BTC-spot ETF inflows, tilting the supply-demand stability in BTC’s favor. Within the week ending November 1, the US BTC-spot ETF market noticed whole internet inflows of $2,220.2 million, extending its influx streak to 4 weeks.
Nevertheless, the US BTC-spot ETF market ended a seven-day influx streak on Friday, November 1, dampening BTC demand. Uncertainty in regards to the final result of the US Presidential Election doubtless dragged BTC to a Sunday low of $67,626.
The latest polls present Kamala Harris main by 0.9 factors, signaling a detailed race to the White Home. Betting web site Polymarket can also be signaling a detailed race. Trump’s odds of successful the US Presidential Election have fallen from 66.9% (October 30) to 54.8% (November 4), including to the uncertainty in regards to the election.
With the markets targeted on tomorrow’s US presidential election, the polls and betting odds might proceed influencing BTC demand. Nevertheless, US BTC-spot ETF market move developments additionally require consideration.
Bitcoin (BTC) Worth Motion
On Sunday, November 3, BTC declined by 0.97%, reversing a 0.03% achieve from the earlier session to shut at $68,908.
Rising odds and assist for a Trump win might drive BTC towards its all-time excessive of $73,808. Conversely, indicators of a Kamala Harris win might drag BTC under $65,000.
