Cryptocurrency prices on November 4: Bitcoin trades near $69,000 ahead of US election and as Fed rate cut looms
cryptocurrency market showed mixed trends on Monday as investors prepared for key events—the US presidential election and an anticipated Federal Reserve rate cut, both of which could significantly impact crypto markets.
Major tokens like Bitcoin, Ethereum, Dogecoin, Tron, and Toncoin saw gains, while others such as BNB, Cardano, Shiba Inu, Chainlink, Polkadot, Litecoin, Uniswap, and NEAR Protocol experienced losses of up to 3%.
At 12:02 pm IST, Bitcoin (BTC) traded 0.84% higher at $69,014, while Ethereum rose by 0.9% to $2,472. Despite these individual gains, the global cryptocurrency market cap declined by 1.68% over the past 24 hours to roughly $2.25 trillion.
«Bitcoin is facing resistance at $69,000 after last week’s gains. We expect high volatility this week, driven by the US presidential election and the Fed’s policy meeting,» said Vikram Subburaj, CEO of Giottus Crypto Platform. «A rally above $72,000 could be likely if Trump secures a victory, while support remains strong at $66,000 if a drop occurs.»
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»Edul Patel, CEO of Mudrex,
Read more on economictimes.indiatimes.com
