A Bitcoin analyst anticipates a "local bottom" at $66,000 for BTC amidst a volatile period coinciding with the US election week. This projection follows the liquidation of $200 million as the BTC price tests support levels below $70,000.
The volatile nature of the market during the election period is prompting repeated retests of the price support levels, impacting market sentiments and leading to substantial liquidations.
This analysis highlights the unpredictable market movements associated with significant political events, emphasizing Bitcoin's sensitivity to external macroeconomic factors, particularly during the election time in the United States.
