Bitcoin's Next Big Move To Be Decided By Election Result And Labor Market Report, Says Benjamin Cowen
Portfolio Pulse from Khyathi Dalal
Benjamin Cowen, founder of Into The Cryptoverse, suggests that Bitcoin's near-term trend will be influenced by the upcoming labor market report and election results. He notes that Bitcoin often rallies mid-month but trades sideways until labor data is released. Recent $555.8 million inflows into Bitcoin spot ETFs highlight its growing institutional interest.
October 15, 2024 | 7:22 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Bitcoin's short-term price movement is expected to be influenced by the upcoming labor market report and election results. Recent inflows into Bitcoin spot ETFs indicate strong institutional interest.
Benjamin Cowen highlights that Bitcoin's price often rallies mid-month but stabilizes until labor market data is released. The upcoming labor report and election results are expected to provide direction. The recent $555.8 million inflow into Bitcoin spot ETFs suggests strong institutional interest, which could stabilize or boost prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100