Bitcoin - Review as of November 1, 2024

Financial and commodity markets analytics


At the time of preparing the review, the market lacked the necessary conditions to overcome the historical maximum. General uncertainty ahead of the upcoming US elections plays a role in this, but in addition, the dollar was supported by a large-scale decrease in US stock indexes on Thursday, triggered by sales of major technology companies, led by Microsoft, which lost 6.1%. Bitcoin quotes have decreased, however, a relatively broad zone of $66,000-$69,000 acts as a support, which may give a chance for a new wave of growth. Nevertheless, if the price manages to overcome it, significant movement goals may be closer to the $61,000-$60,000 marks.