Bitcoin Price Analysis As Trump’s Polymarket Odds Fall, Crypto Liquidations Hit $350M, And This New PolitiFi ICO Closes On $500K

The
Bitcoin
price
edged
up
a
fraction
of
a
percent
in
the
last
24
hours


to
trade
at
$68,823

as
of
03:29
a.m.
EST
on
trading
volume
that
surged
42%
to
$33.6
billion.

This
comes
after

Polymarket
odds
of
a
Trump
victory
in
tomorrow’s
US
election
plunged
9%
in
the
past
week.
They
have
since
recovered
slightly,
with
the
Republican’s
chances
rising
by
3%
in
the
last
6
hours
to
stand
at
57%
as
of
3:17
a.m.
EST.

The
Bitcoin
price
briefly
dipped
below
$69,000,
which
prompted
big
liquidations
in
the
crypto
market,
hitting
$350
million
across
$259.7
million
long
bets
and
$90.1
million
short
bets.

Analysts
have
speculated
that


Bitcoin
could
rally
if
Trump
wins

after
he
promised
to
be
”crypto
president”
if
he
is
elected.
Trump
has
also
promised
to
fire
Securities
and
Exchange
Commission
Chair
Gary
Gensler
and
make
the
US
“the
world
capital
of
crypto.”

Bitcoin
Price
Could
Sustain
Its
Bullish
Rally

The
Bitcoin
price
has
been
on
a
sustained
rally
since
September,
according
to
the
BTC/USD
chart
analysis
on
the
12-hour
timeframe.
BTC
has
been
recording
higher
lows
and
higher
highs
as
the
bulls
capitalized
on
the
$56,000
support
level
to
push
the
price
of
Bitcoin
through
a
rising
channel
pattern,
as
data
from


GeckoTerminal

shows.

The
Bitcoin
price
now
trades
above
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
indicating
that
BTC
could
still
soar.

However,
the
Relative
Strength
Index
(RSI)
seems
to
be
on
a
correction,
currently
falling
below
the
50-midline
line,
an
indication
that
BTC
is
under
some
selling
pressure,
as
it
trades
within
the
lower
boundary
of
the
rising
channel.

Bitcoin
price
investors
are
aiming
at
maintaining
the
current
trend,
which
could
possibly
push
the
price
of
Bitcoin
to
the
next
possible
target
at
$76,000.

However,
if
the
price
drops
below
the
channel,
the
next
possible
support
level
could
be
within
the
200-day
SMA
at
$62,400.

Meanwhile,
investors
seeking
other
opportunities
in
the
PolitiFi
space
of
the
crypto
market
might
want
to
consider


FreeDum
Fighters
($DUM),
which
has
blasted
past
$417k
in
funds
raised
in
its
presale

According
to
analyst
and
YouTuber
Jacob
Bury,
with
over
43k
subscribers,
DUM
can
potentially
surge
10X
when
it
launches.

FreeDum
Fighters
Presale
–
Next
Crypto
To
Explode?

The
FreeDum
Fighters
project
brings
a
satirical
twist
to
the
US
elections,
pitting
two
mechanized
leaders
against
each
other
in
the
blockchain
version
of
the
presidential
election.

The
candidates
are
MAGATRON,
posing
as
Donald
Trump,
and
Kamacop
9000,
representing
Vice
President
Kamala
Harris. 

Ready
for
this
year’s
elections?

Get
involved
early
by
joining
the

@Freedum_Fighter
elections
between
MAGATRON
and
Kamacop
????

Cast
your
vote
by
participating
in
the

$DUM
presale
and
using
their
stake-to-vote
system
????️

Be
sure
to
follow
this
project,
you
will
not
regret
it.????????

pic.twitter.com/j452Rht1Lq

—
Red
(@Redlion35)

October
17,
2024

$DUM
holders
can
buy
and
stake
tokens
in
support
of
their
favorite
candidate,
participate
in
lively
debates
and
earn
rewards
based
on
the
chosen
candidate’s
performance.

Early
presale
contributors
can
back
their
choice
by
staking
$DUM
with
either
MAGATRON
or
Kamacop
9000.

MAGATRON
currently
boasts
a
284%
annual
return
for
its
supporters
(stakers),
while
Kamacop
9000
offers
a
dazzling
774%
annual
return. 

Visit
the
official
FreeDum
Fighters
website
to
buy
$DUM
tokens
here

using
ETH,
BNB,
USDT,
USDC,
or
SOL
for
$0.000065
each.

Interested
investors
should
buy
soon
because
the
price
will
increase
in
a
little
more
than
1
day. 

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