Bitcoin Holds $66K as Q3 GDP, Earnings, and Election Stir Crypto Market

• Bitcoin has established help across the $66,000 area.
• BTC is at a crucial stage the place merchants must be observant.
• Macro occasions may set off Bitcoin volatility this week.

Bitcoin has established help across the $66,000 stage, which crypto analysts see as a major level within the ongoing bull cycle. The cryptocurrency shifted resistance into help after dropping to this stage a number of instances with out closing under it, in response to a bunch from the Altcoin Buzz cryptocurrency podcast.

Whereas BTC has surged to the $70,000 vary, the Altcoin Buzz channel host steered merchants keep alert till a transparent break above this stage is confirmed. He highlighted $70,000 as a key psychological resistance and a historic zone the place Bitcoin beforehand struggled to maneuver increased.

Though technical indicators recommend a possible Bitcoin rally, the analyst identified macro occasions which will affect the crypto market this week. These embrace the Q3 GDP launch, anticipated on Wednesday, and the U.S. non-farm payroll report due Friday.

Learn additionally: Market Awaits US Financial Knowledge for Bitcoin Rally to $72K Amid Stagnant Costs

Traders are additionally looking forward to Mega-Cap Earnings stories scheduled between Tuesday, October 29, and Thursday, October 31. Anticipation is constructing across the upcoming U.S. presidential election, which is anticipated to affect market situations within the crypto sector.

Polymarket Ballot Exhibits Trump Main

In a ballot performed on Polymarket, a prediction platform with a big crypto consumer base, former President Donald Trump at present leads Vice President Kamala Harris. The ballot estimates Trump’s probability of profitable at 66%, in comparison with Harris’ 34.1%.

Some analysts imagine the Polymarket ballot might mirror sentiment amongst crypto customers who view a Trump presidency as extra favorable for the business. This perception has fueled predictions of a possible crypto market rally if Trump wins.

Within the meantime, Bitcoin hasn’t been the one cryptocurrency experiencing features. Solana (SOL) and Sui (SUI) have additionally proven upward momentum. SOL recovered from a current pullback, buying and selling at $181.15 after a 14.68% acquire, whereas SUI rose 20.35% previously two days, reaching $1.86.