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Bitcoin May Slide To $65,000 As Critical Support Level Fails – Details

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Bitcoin May Slide To $65,000 As Critical Support Level Fails – Details - NewsBTC

Quick Summary:

In terms of future price gains, Bennet has stated his expectations of Bitcoin to eventually surpass its all-time high (ATH) at $73,750, albeit he remains uncertain of how low the asset will trade before achieving this feat.  Since hitting its ATH in March, Bitcoin has only produced a range-bound price movement between $55,000-$72,000 even despite positive market indicators such as Fed rate cuts and significantly high inflows in the Spot Bitcoin ETF market. However, a traditionally bullish Q4, the potential of sustained heightened ETF inflows, and the upcoming US election signals an imminent possible price breakout for the crypto market leader.

Related Reading: How To Trade Bitcoin During The US Election, Expert Reveals Bitcoin Breaches Crucial $69,000 Support Zone In an X post on November 1, Bennet shared an analysis of the BTC market, proclaiming the dip below $70,000 as a concerning development.

Bitcoin Sentiment Bullish As US Election Approaches Despite recent price loss, data from CoinMarketCap shows the general market sentiment on Bitcoin remains highly bullish ahead of the US general election.


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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 18:00:30 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 63 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23383735

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About NewsBTC

NewsBTC Logo

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 5 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 13 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

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