Donald Trump

Bitcoin

Rise

Bitcoin is on the verge of its longest period of sideways price action, disappointing bulls who were expecting a significant rally before the end of the year.
<h2 id="bitcoin-set-for-record-sideways-move-november-election-could-be-key-bullish-catalyst">Bitcoin Set for Record Sideways Move, November Election Could Be Key Bullish Catalyst</h2>
With the US elections approaching and US Treasury yields rising, the cryptocurrency’s lackluster performance has been attributed to various macroeconomic factors, including political uncertainty and market conditions.
As of Friday, it has been 285 days since Bitcoin halved in April, with prices fluctuating between $59,000 and $65,000.
According to CryptoQuant founder Ki Young-Ju, if there is no major price rally in the next two weeks, it will be the longest sideways market since previous halvings.
Typically, halving events, in which Bitcoin’s block rewards to miners are reduced, trigger significant bull markets, with the asset’s value historically increasing by several hundred percent in the months that follow.
But the market has been largely sideways this year, with some experts pointing to the US elections as a potential catalyst. Republican candidate Donald Trump is seen as a crypto-friendly figure, particularly due to his involvement with decentralized finance project World Liberty Finance.
In contrast, the Democratic Party is perceived as less favorable to the crypto market. Since market sentiment is typically in line with political events, a Republican victory could fuel optimism and send Bitcoin higher.
In the short term, traders are also watching for movements in US Treasury yields, which impact the broader financial market and contribute to Bitcoin’s sideways movement.
Augustine Fan, head of insights at SOFA, noted that rising bond yields and gains in the stock market are helping to lift the US dollar and putting downward pressure on crypto prices.
Fan also noted that the delay in refunds from the defunct Mt. Gox exchange has relieved some of the potential supply pressures on Bitcoin until at least October 2025.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/according-to-cryptoquant-founder-ki-young-ju-this-will-happen-if-bitcoin-doesnt-rise-for-another-two-weeks/" rel="noopener noreferrer nofollow">According to CryptoQuant Founder Ki Young-Ju, This Will Happen If Bitcoin Doesn't Rise for Another Two Weeks!</a>

According to CryptoQuant Founder Ki Young-Ju, This Will Happen If Bitcoin Doesn't Rise for Another Two Weeks!

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