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Bitcoin Volatility Explained: Election and Fed’s Impact

  • Bitcoin started the week on a positive note, going up by 0.6% and hitting $69,018.9 early Monday.
  • The US presidential election is causing uncertainty in the crypto market, as the race between Trump and Harris is closer than expected.
  • Traders are also closely watching the Federal Reserve's next move, as they are expected to cut rates by 25 basis points in November.
  • There is a 94% chance of a rate cut in November and a 70% chance of another in December, which could impact Bitcoin's price.

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