Bitcoin kicked off the week hovering just under $70,000. Overall, market sentiment is bullish as the U.S. elections gain momentum among crypto traders and inflows into ETFs remain consistent.
Now, BTC is trading at around $68,249, up by 5.27% for the week. Meanwhile, Ether has outperformed BTC with weekly gains of 6.7% and is currently trading at $2,703.
🗓What’s coming this week:
Oct 24: Initial Jobless Claims - 8:30 AM EST
Oct 24: US Manufacturing PMI - 9:45 AM EST
🙋What experts are predicting:
🔵Analysts at QCP Capital believe that amid record performance of U.S. equities and a weakening Japanese yen, interest in risk assets will increase as the U.S. elections approach. And so they maintain a positive outlook for October, expecting that BTC could reach the $78,000 mark.
🔵Signal provider Lingrid reports that BTC has broken out of the downtrend seen since May. This indicates a potential growth in bitcoin's price. However, such a breakout should be followed by a correction, and at Lingrid, they expect bitcoin to fall below $65,000 before targeting $72,500.
🔵GazuaXBT trader believes that it is too early to talk about a new all-time high for bitcoin. He expects the price to fall first, explaining that a falling wedge pattern has been formed on the chart.