Although there will be significant fluctuations in price in the next few days

CN
Phyrex
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11 hours ago

In the past few days, although the prices have experienced significant fluctuations, they are largely unrelated to the data itself, and even the purchasing power has little impact. The key factors are still the expectations and results of the U.S. election. If the expectation of Trump winning rises, then the price of #BTC may rebound; if Harris is expected to win, then BTC will likely see a short-term pullback, and the results have reflected this.

It is clear that the recent price movements are based on expectations of the election results. However, there is not much time left; the results are expected to be announced around the 6th or 7th, so everyone won't have to wait much longer. I will write another piece on the election topic today, and it will be ready soon, hopefully addressing many friends' questions regarding the election.

Looking back at BTC's data, as mentioned earlier, the current trading volume reflects users' sentiments about the election. However, most of these users are short-term investors facing losses, either disappointed by Trump's potential victory or simply engaged in financial investment. In contrast, short-term profit investors and early investors are still maintaining low trading volumes, which is why I say that the election results will have a short-term impact on the market, regardless of what they are.

From a support perspective, the range of $64,000 to $69,000 still shows strong resilience, and currently, no significant risks have been observed. Of course, the support in the densely concentrated chip area may not withstand a drop in sentiment. If Harris is elected, there is a possibility that BTC's price could fall below $64,000, but as long as this support remains intact, there is still a high probability of a rebound.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing

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