The price of Bitcoin has experienced a drop below $70,000 following its rise above $72,000 last week. This decline coincides with the upcoming US Presidential elections, with whales and election results cited as significant factors.
There is noticeable suspense in the market as investors await the election results, and major Bitcoin investors have adopted a cautious approach. The current market sentiment is marked by fear and uncertainty, indicated by a decrease in active wallets.
Historically, Bitcoin's price has reacted to the outcomes of US elections. Analysts suggest potential volatility ahead, considering varying opinions on future market dynamics. With main candidates Kamala Harris and Donald Trump in focus, traders are vigilant of election impacts on Bitcoin.
