The post Market Responds to Upcoming Political Events appeared on BitcoinEthereumNews.com.

This week is poised for significant political and economic shifts, influenced by U.S. election outcomes and the Federal Reserve’s anticipated interest rate adjustments. With the contest between Donald Trump and Kamala Harris intensifying, participants in the cryptocurrency sector are adopting a cautious approach as they await final results. Bitcoin remains under pressure, trading below the $70,000 threshold, while various altcoins have seen increased selling activity, reflecting concerns over potential market volatility. What Impact Will the FOMC Meeting Have? Bitcoin’s struggle below the $70,000 resistance level and the general apprehension among market players indicate a high level of uncertainty prior to the FOMC meeting and the U.S. elections. How Will Interest Rates Affect Market Performance? The Federal Reserve’s upcoming interest rate decision on November 7 is critical, with a 99.7% likelihood of a 25 basis point cut, according to CME data. Concurrently, U.S. voting begins on November 5, with results expected soon after, influencing both financial and cryptocurrency markets significantly. Key Insights: Expect heightened volatility in Bitcoin and altcoins this week. Historical trends suggest election years yield positive returns for the S&P 500 index. Potential for Bitcoin to reach $100,000 by year-end remains strong. Market participants should prepare for a possible parabolic rally post-elections. The anticipated volatility in the cryptocurrency landscape could lead to risks, yet it simultaneously offers opportunities for savvy market participants. Staying vigilant on political and economic developments will be essential for making informed investment choices. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/market-responds-to-upcoming-political-events

---

Filed under: News - @ November 4, 2024 6:14 am