Cryptocurrency prices on November 5: Bitcoin falls below $68,800 as uncertainty surrounds US election

economictimes.indiatimes.com:

Major tokens, including Bitcoin, Ethereum, BNB, Solana, and Toncoin, recorded declines of up to 6%, while others such as XRP, Dogecoin, Shiba Inu, Polkadot, and NEAR Protocol saw gains of up to 10%.

At 12:41 pm IST, Bitcoin (BTC) was trading 0.4% lower at $68,733, while Ethereum fell by 1.7% to $2,430. Despite individual declines, the global cryptocurrency market cap rose 0.36% over the past 24 hours, reaching around $2.26 trillion.

“Bitcoin continues to face selling pressure as uncertainty increases with only hours remaining before the US election. Market sentiment has been impacted by factors like Trump’s declining odds, weak non-farm job data, and Mt. Gox transferring $2.2 billion in Bitcoin to unmarked wallets, leading investors to take a cautious, wait-and-see approach until election results are clear. BTC now faces resistance at $69,000, with strong support at $65,950," said Edul Patel CEO of Mudrex.

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.

Meanwhile, the CoinSwitch Markets Desk stated, «Market volatility is high with the U.S. election voting and FOMC meeting this