Orhan 
Despite recent market fluctuations, Bitcoin has once again captured investors’ attention by reaching record levels. For the first time in over seven months, the cryptocurrency surpassed the $70,000 mark, rekindling optimism among investors. Analysts point out that Bitcoin’s rise aligns with positive developments in the broader crypto market.
Several factors support Bitcoin’s potential rally, especially the anticipated interest rate cut by the Federal Reserve. The wider market expects a 25 basis point cut on November 7, which would lower interest rates to a range of 4.5% to 4.75%. “This adjustment indicates that necessary steps are being taken to balance economic growth,” said Ryan Lee, Chief Analyst at Bitget Research.
U.S. Election Polls Could Be a Factor Supporting Bitcoin’s Rise
In the U.S., polling data for the upcoming presidential election is emerging as one of the factors supporting a bullish outlook for Bitcoin. Polls show a close race between Vice President Kamala Harris and well-known crypto advocate Donald Trump in many key states. On Polymarket, a popular event-driven trading platform, Trump—also recognized as a crypto proponent—shows strong potential to win.
Analysts suggest that this kind of election data could increase positive expectations for digital assets like Bitcoin. Especially in a scenario where crypto-friendly candidates gain prominence, new opportunities could emerge for digital assets in terms of regulation and growth.
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