$BTC $ETH Great🚀🚀🚀
BTC is on the rise again❗️❗️❗️
Election suspense and supply tightening dance together,
Market volatility may become the norm before November! ! !
BTC range fluctuations until November:
Election and supply adjustment have dual impacts. Crypto market analyst Alex Thorn pointed out that
BTC's recent volatility may continue until after the US presidential election in November, driven by two core factors: election uncertainty and supply adjustments.
1. Oversupply relief:
Thorn emphasized that the difficulties in the Bitcoin market in August were not only due to the early decline, but also due to oversupply.
At present, most of the oversupply problems have subsided, including the US government's seizure of stolen BTC or returning it instead of selling it, the German government's completion of the sale, the Mt.Gox estate distribution is nearing the end, and the bankrupt company's tokens are returned to creditors.
He is optimistic that from a supply perspective, Bitcoin has a positive outlook.
2. Potential positives from FTX estate distribution:
The asset distribution of the defunct exchange FTX is seen as a positive catalyst and is expected to start in the next six months.
It will inject a lot of cash into the crypto investor community and may stimulate industry reinvestment.
3. The election affects investment sentiment:
Thorn predicts that the market will continue to fluctuate until the election results are announced.
Trump's victory may be a positive, while if Harris wins, the potential negative impact may be relatively limited.
He emphasized that the market needs more expectations of interest rate cuts and election information to stabilize sentiment.
In summary, BTC's short-term volatility is affected by both election uncertainty and supply improvement, and future trends remain to be seen.
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