Jamie Crawley is a CoinDesk news reporter based in London.
The increasing likelihood of Joe Biden withdrawing from the race for U.S. president has taken some of the wind out of BTC's sails after it briefly regained $66,000 earlier this week. With a second term in the White House for Donald Trump considered the far more beneficial outcome for the crypto industry, BTC was buoyed by Biden's poor performance thus far in the campaign coupled with the assassination attempt on the Republican nominee.
"While spot could range here in the near term, the market is definitely betting big on a breakout heading into the US elections," the firm said, noting that volatility had drifted lower as BTC was back to the familiar range of $61,000 to $71,000. FxPro senior market analyst Alex Kuptsikevich said that certain bitcoin indicators show the asset is far from overbought and sentiment far from euphoric, leaving room for gains in the near term.
After 'Civil War' and Anti-Immigrant Tweets, Ryan Selkis Told to Cool It by His Crypto Startup's Leadershipaward-winningin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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