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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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During the highly anticipated US presidential debate, Bitcoin (BTC) continued its downward trend, hovering around the $56,500 level. Despite Donald Trump’s previous support for crypto, his debate strategy largely ignored Bitcoin, which may impact market sentiment.
Once critical of digital assets, Trump has since embraced them through NFT projects and partnerships like World Liberty Financial, but his debate performance offered no mention of these.
On the other hand, Kamala Harris provided little clarity on her crypto stance, creating further uncertainty.
This lack of focus on digital assets, coupled with shifting political dynamics, has contributed to Bitcoin’s recent volatility, as traders assess the potential implications for the crypto market.
Bitcoin Drops 2% Amid US Presidential Debate Between Trump and Harris
Bitcoin (BTC) fell over 2%, trading around $56,330, as market sentiment shifted following the US presidential debate between Kamala Harris and Donald Trump. Traders reacted to the debate, causing volatility in the crypto market.
Trump, who once labeled crypto as a “scam,” has now embraced digital assets, promoting NFTs and projects like World Liberty Financial. However, during the debate, his crypto stance was largely overshadowed by other issues.
Harris, while not offering specific details, hinted at supporting crypto industry growth, creating further market uncertainty.
- Bitcoin fell 2%, reaching $56,330
- Trump supports crypto but was on the defensive during the debate
- Harris’ unclear stance on digital assets adds market uncertainty
The debate’s impact led to Bitcoin’s decline, driven by uncertainty over future crypto policies.
Bitcoin Faces Growing Selling Pressure, Critical $55,600 Support Level in Focus
Bitcoin (BTC) is facing increased selling pressure, with significant concerns surrounding the $55,600 support level.
According to analyst Tuğba T. from CryptoQuant, many investors who bought in the $61,000 to $72,000 range are now at a loss, which could lead to more selling and further downward pressure on Bitcoin’s price.
Tuğba also pointed out that if Bitcoin falls below $55,600, it could trigger further declines and market volatility. This level is crucial for investor confidence and technical stability.
- Key support level: $55,600
- Increased selling pressure from investors at a loss
- Further declines likely if support breaks
Fragile investor sentiment and critical support levels make Bitcoin’s near-term outlook uncertain.
Daily Technical Outlook: Bitcoin (BTC/USD) – September 11
Bitcoin is facing increasing downward pressure, currently trading at $55,688 after breaking below its 50-day Exponential Moving Average (EMA) of $56,194. The market is exhibiting a bearish tone, with the next critical support level at $55,309.
If this support fails, further declines could push Bitcoin towards the $53,699 level.
Key Insights:
- Bitcoin faces immediate resistance at $56,494, with key support at $55,309.
- A break below $55,309 could lead to further declines toward $53,699.
- RSI at 42.41 indicates a bearish outlook, with momentum on the downside.
On the upside, immediate resistance is found at $56,494, which aligns with the pivot point. A sustained break above this level could signal a potential recovery toward $58,061.
The Relative Strength Index (RSI) stands at 42.41, reflecting weak momentum and room for more downside if selling intensifies. Overall, market sentiment remains cautious as traders await key price movements.
Bitcoin Adoption Grows as Crypto All-Stars Nears $1M in Presale
Bitcoin’s growing adoption continues to fuel interest in innovative platforms like Crypto All-Stars, which is nearing the $1.2M mark in its presale.
With only one day left, the platform has raised $1,210,382 out of a $1,432,036 target. The current rate stands at 1 $STARS = $0.0014362, offering investors a limited-time opportunity before the price increases.
Crypto All-Stars merges Bitcoin’s market influence with meme coin staking, providing unique options for both Bitcoin and meme coin holders.
Since its launch, the platform has rapidly gained traction, raising $730,000 within its first week. Investors looking to diversify can purchase $STARS using ETH, USDT, BNB, or even a card.
Visit the Crypto All-Stars website to join the presale before it ends. Stay updated via X (Twitter) and Telegram for future developments.
- Presale Raised: $1.21M out of $1.43M target
- 1 $STARS = $0.0014362
- Time Remaining: 1 day before the price increase
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
