On Monday morning, Bitcoin (BTC) prices continued to trade above the $63,000 support level as bulls prepared to run at the $65,000 resistance level, which many analysts consider a key level to overcome for the continuation of the bull market.

FxPro Senior Market Analyst Alex Kupcsikevich said: "After closing last week, the cryptocurrency market paused its growth early on Monday, stabilizing at $2.23 trillion (up 8.8% in 7 days), close to the previous peak." "This means that further increases will be an important second signal to break the trend of local high-to-low declines over the past few months. Prior to this, we have already seen the breakthrough of the local low-to-low decline sequence, which is the first signal of a trend change."

He added: "On Monday morning, Bitcoin fell to $64.4K and stabilized a $1,000 drop at the time of writing this article." "This seesaw battle near the 200-day simple moving average has entered its fifth day. On Monday, the area above this curve saw the greatest fluctuation. Nevertheless, traders should remember last month's trend, when a strong seller attack occurred after two days of consolidation above this line, which was also roughly at the same height."

Kupcsikevich pointed out: "Since August, the capitalization of the stablecoin market has been growing, approaching $160 billion after three months of fluctuating around $15 billion, indicating that the overall cryptocurrency market is positive."

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The big news for the cryptocurrency market at the start of the week was the first public statement on cryptocurrencies by Vice President Kamala Harris at a fundraising event at Cipriani Wall Street in Manhattan, vowing to encourage investment in artificial intelligence and digital assets.

According to Bloomberg, Harris said: "I will bring together the workforce, small business founders and innovators, as well as large companies. We will work together to invest in America's competitiveness and the future of America. We will encourage innovative technologies such as artificial intelligence and digital assets while protecting our consumers and investors."

She added: "We will create a secure business environment and establish consistent and transparent traffic rules." "We will invest in semiconductors, clean energy, and other industries of the future, and we will cut unnecessary bureaucracy."

These comments are noteworthy because this is the first time Harris has publicly commented on cryptocurrencies since becoming the Democratic presidential candidate, while Donald Trump has been fully supporting the industry for months.

Coinbase Policy Director Faryar Shirzad called Harris's statement "important and constructive," while acknowledging that Trump is obviously more supportive of cryptocurrencies. "This is not as forward-looking as Donald Trump's specific and visionary stance, but it is still noteworthy because she recognizes the importance of digital asset innovation, on par with artificial intelligence."Chirp's founder and CEO, Tim Kravchunovsky, was not impressed, stating that the statement was merely superficial lip service, lacking any substantive details.

Kravchunovsky said in a report: "Over the weekend, Kamala Harris gave a brief speech mentioning digital assets, and now everyone is frantically thinking that she will support crypto innovation." "But the reality is, we have not heard any details from her about how she plans to provide this support. She seems to be saying what people want to hear without a concrete plan."

"During this administration, the U.S. Securities and Exchange Commission has shown its stance on cryptocurrencies, and unless I hear specific news from Harris, I will take it as empty talk," he added. "Furthermore, in the past, Hillary Clinton, who remains an influential figure within the Democratic Party, has stated that cryptocurrencies pose a threat to the dollar. So, who can say that attitudes towards digital assets will change during Harris's presidency?"

Kravchunovsky pointed out: "So far, we have heard more details about specific cryptocurrency-related policies from Donald Trump, such as establishing a strategic Bitcoin reserve." "I would also like to hear more details from Harris's campaign team. But even if both presidential candidates promise to go to the moon, let's not forget that this is politics. There is no guarantee that either of them will truly fulfill their promises."

While the debate over which presidential candidate is more suitable for cryptocurrencies intensifies, TradingView analyst TradingShot stated that what truly matters for Bitcoin is the holding of the election.

"Trump or Harris? For Bitcoin, the election just needs to happen!" TradingShot titled his latest update. "For such a complex and important issue as the upcoming U.S. presidential election in November, the simple title is simple, but in terms of pragmatism, it is entirely correct."

TradingShot emphasized: "Obama in 2012, Trump in 2016, Biden in 2020 - all these elections have one thing in common, which is the initiation of a massive parabolic rally after the election results." "In all cycles, this is the most aggressive phase, clearly indicating that investors just need the election to end so they can confidently buy risky assets without this macro event. Usually, this is accompanied by the new president's assurance that 'the market remains strong, and we will do everything we can to maintain this state,' and so on, so it makes sense."

He pointed out that the election also helps to provide a timeframe for traders to maximize profits before the next cryptocurrency winter.

TradingShot said: "It is also interesting that Bitcoin tends to peak about a year after the election." "November 6, 2021 = Bitcoin broke through after 385 days; November 8, 2016 = Bitcoin broke through after 399 days; November 3, 2020 = Bitcoin broke through after 371 days."

He emphasized: "This model suggests that even if we cannot accurately estimate the price of BTC, we can time it." "Based on the election on November 5, 2024, historically, the shortest time for BTC to reach a new cycle peak will be 371 days, giving us a rough date around the week of November 10, 2025!"Currently, the countdown to the election has already begun, and discussions surrounding which candidate is more suitable for digital assets may dominate conversations about cryptocurrency and politics until the winner is known.