Bitcoin price It appears to have stabilized just 10 days before the US presidential election. Now analysts are anticipating next week’s inflation numbers and jobs reports as the next big catalyst for BTC price movement.

Bitcoin has retreated slightly since testing the $70,000 level earlier this week and settled around $68,000, up 0.8% on the day and 0.5% on the week based on 2017 data. CoinGecko.

“Bitcoin made a slight correction towards the end of the day after reaching $68,850, but maintained a strong price level,” BRN analyst Valentin Fournier said in a note shared with BRN analyst Valentin Fournier. he said. decrypt. “This indicates a potential accumulation phase near $67,500, which could pave the way for a subsequent price increase.”

Yuya Hasegawa, a market analyst at Japanese crypto exchange Bitbank, said that prices can be expected to decline slightly.

“From a technical perspective, some pullback following a breakout is textbook and the market shouldn’t be too disappointed by this week’s price action,” he wrote. decrypt.

The world’s oldest and largest cryptocurrency by market cap has seen $30 billion worth of BTC change hands in the past 24 hours, according to CoinGecko data.

Bitcoin is preparing for next week

Next week, Hasegawa said investors should look forward to the personal spending report, which will be released on Halloween. 31 October—and business report 1 November.

Alongside these reports, the Federal Reserve will issue a decision on interest rates on November 7, just two days after the presidential election.

As of yesterday, Vice President Kamala Harris and former President Donald Trump are still very close in the polls. five thirty eight Harris has a slight lead at 48.1% to Trump’s 46.4%.

On crypto betting site Polymarket, whale recently placed 2 million dollar bet For Harris to win. Shortly after, reports emerged that some of the platform’s biggest bettors were participating in the election, which also took off. $2.4 billion betfaces greater internal scrutiny.