Analysts are forecasting that Bitcoin could take up to two months to reclaim its spot "above the macro trend," with the U.S. presidential election playing a pivotal role in Bitcoin’s near-term movements. According to Cointelegraph and insights from Keith Alan of Material Indicators, Bitcoin’s rally may have to wait until 2025 for true momentum to build, with the market facing potential volatility through Inauguration Day on January 20, 2025.

Key Insights:

Election Impact: Bitcoin’s price could fluctuate heavily as the U.S. election approaches. A Trump win might spark a “visceral reaction,” while a Democratic victory could temper BTC’s upward momentum.

Technical Support Levels: Analysts are watching technical supports at the 50-day and 21-week SMAs. However, with election-related volatility, these lines might fail to hold, creating turbulence.

Long-Term Outlook: By Q2 2025, Bitcoin is expected to outperform macro trends. Despite potential pullbacks, many believe BTC will hit new all-time highs, possibly reaching $100,000 by early 2025.

What Traders Should Watch:

Short-Term Volatility: Expect potential price swings leading into Election Day.

Support Lines: Keep an eye on the 50-day and 50-week moving averages as downside protection.

Macro Rebound: Patience may pay off, with a significant BTC surge predicted after new government policies take effect in early 2025.

As Bitcoin faces this period of politically-induced market anxiety, traders are bracing for ups and downs but remain hopeful of long-term bullish trends.

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