Bitcoin struggles to overcome the $64,000 resistance as investors turn to stocks and cash options amid socio-political uncertainty.
Bitcoin has been unable to sustain levels above $66,000 since July 31, despite a 5.2% gain between Oct. 3 and Oct. 7.
Socio-political events appear to be the primary driver of Bitcoin's limited upside, with the global monetary base (M2) expanding while Bitcoin faces resistance at $68,000.
The rally to $64,000 is unlikely to be solely influenced by the US fiscal situation.