Bitcoin price drops to $68k amid election uncertainty and market caution

From Investing.com

November 5, 2024 12:55 AM:

Bitcoin fell on Tuesday amid uncertainty surrounding the presidential election, dropping 1.2% to $68,345.5. Traders cautious of speculative assets like cryptocurrencies due to election jitters and losses in broader markets. Federal Reserve meeting also a focus. Initial gains in Bitcoin driven by speculation of a Trump victory over Harris, but polls now show a tight race. Trump and Harris both vague on crypto policies. Polymarket shows Trump favored at 59.1%, while Investing.com poll shows 78% expect Trump to win. Altcoins mixed with Bitcoin, Ethereum down, meme token up 9.1%. Fed meeting on Thursday expected to provide insight on rate cuts, especially with recent data indicating cooling labor market.

Read more at Investing.com: drops to $68k as election uncertainty builds By Investing.com