Bitcoin and Altcoins Remain Calm Ahead of US Election Day (Market Watch)

Bitcoin price experienced some volatility over the weekend, but the daily scale shows little to no movement. However, fireworks are expected in the coming days.

Even the most naturally volatile altcoins are quiet today, with XRP being the biggest gainer and LINK the biggest loser from the biggest highs.

BTC calms down ahead of election

Last Monday started on a more positive note for the primary cryptocurrency, which continued and culminated on Tuesday. At the time, the asset soared from $68,000 to $73,600, bringing it $150 from painting a new all-time high.

Although the community predicted that the record would fall at one point, the picture changed and BTC fell to $72,000. The situation worsened at the end of the trading week, as bitcoin fell below $69,000 on some occasions.

The weekend didn’t go so well for the cryptocurrency either, as bears pushed it to a weekly low of $67,600 yesterday. The most likely reason behind this is the diminishing odds of Donald Trump winning the next election.

Now, however, BTC is hovering around $68,500, which is essentially where it was yesterday. Its market cap is just over $1.350 trillion in CG, and its dominance of the highs is 56.8%. It is worth noting that the US election is tomorrow and is expected to influence price movements in the crypto market one way or another, depending on the outcome.

Bitcoin/Price/Chart 04.11.2024. Source: TradingView Even the highs are calm

The daily chart of altcoins shows something quite unlikely as most sit quietly today. ETH, BNB, DOGE, TRX, TON and AVAX are slightly in the green, while SOL, ADA, BCH and SHIB have minor losses.

XRP has gained the most of the larger-cap alternatives (2%), while LINK is down 3.5%, making it the biggest loser.

Everything now seems like the calm before the storm. The total market capitalization is also naturally at the same point as yesterday at just under $2.4 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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