Analysis

Ethereum price started a fresh decline below the $2,550 support. ETH is struggling and might recover if it clears the $2,500 resistance zone.

Bitcoin crashed below $69,000 on Sunday resulting in significant levels of market liquidations. Interestingly, analysts have also noted a correlation of this decline with a decrease in the winning odds of US Republican presidential candidate Donald Trump ahead of the general elections on Nov. 5.

This election season has seen a unique focus on the crypto industry, as the two major candidates, Kamala Harris and Donald Trump, have addressed the future of digital assets as a key campaign point.

The Bitcoin price action was marked by ups and downs in the just concluded week, serving as a reminder of the volatile nature of the digital asset.

Ethereum‘s renewed price momentum appears to be slowing down as bears have taken control of the market once again. Despite the waning price strength, several crypto analysts are still bullish about the crypto asset’s trajectory, predicting that ETH could be set to rally in the short term.

What investors thought to be the best months for Bitcoin have not gone without market casualties. Bitcoin’s price fell today as the market’s attention turned to the drop in Donald Trump’s odds in the upcoming United States presidential elections.

Ethereum has garnered notable attention following an uptick in funding rates—a measure used to gauge the demand balance between buyers and sellers in futures contracts.

The TRON network has been making a notable impact across altcoin ecosystems, regaining its position as the leading blockchain for transaction volume among major altcoin chains.

This trend signifies a growing inclination among investors to hold onto their Bitcoin rather than sell it, which can create upward pressure on prices as BTC inches closer to its all-time high level of $73,700 reached in March. 

MicroStrategy has shocked the crypto community with its latest plans to increase its Bitcoin stash by 4X with an impressive $42 billion capital plan. Known for its unwavering Bitcoin accumulation strategy, MicroStrategy has consistently purchased BTC.

Donald Trump jumped into Bitcoin whitepaper’s 16th anniversary with a direct message to Bitcoin supporters on X.

Solana trimmed gains and traded below the $175 support zone. SOL price is now approaching the $165 support and might bounce back in the near term.

Nebulor, a Cardano supporter, recently shared his sentiment on Twitter/X, saying that ADA is fast emerging as the “main character” of the current bull cycle.

Funding for a new batch of VC projects expanded in October, after a slowdown in the preceding month. A new series of high-profile rounds showed crypto building did not stall. 

Tether Limited reported $2.5 billion in net profit for the third quarter. bringing its year-to-date gains to a record-breaking $7.7 billion.

Maker could rise by nearly 40% to $1,721 if it breaks above the upper boundary of a falling wedge pattern.

Brian Armstrong, CEO of Coinbase, in an X post, mentioned the US election results will land in 6 days and no matter how it goes, this will be the most pro-crypto congress ever.

Some suggested that the second-largest cryptocurrency will soon break from the next resistance level and reclaim the $3,000 mark.

The Shiba Inu price has been on a rampage alongside many other cryptocurrencies. Over the past 24 hours, Shiba Inu has increased by about 4.4% amidst significant investor interest.

Bitcoin surged past $73,000 yesterday, nearly breaking its all-time high and sparking a wave of optimism and euphoria across the market. This significant price movement has fueled hopes for BTC’s push into price discovery and new, uncharted territory.