Bitcoin rises on Sunday, but accumulates a drop in the week on the eve of the US elections
Major cryptocurrencies operate mostly higher this Sunday, but the weekly balance is mixed and the market follows the US midterm elections.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM MONEY TIMES · 2 MIN
Bitcoin (BTC) gained ground this Sunday (1), but has not yet recovered the ground lost during the week. According to Money Times, the cryptocurrency rose 0.55% in the last 24 hours, quoted at US$77,830.77 at around 11 am (Brasília time), while accumulating a decline of 3.06% in the seven-day period.
The general picture is bullish with uneven results. According to the same vehicle, the largest cryptocurrencies operate mostly higher this Sunday, although performance for the week was mixed. Ethereum (ETH), for example, advanced 0.63% on the day, to US$2,263.55, but registered a drop of 2.99% in seven days.
What most catches the attention of traders, however, is outside the chart. According to Money Times, the midterm elections in the United States are scheduled for this week, and the crypto market is closely following the results of the polls, which could influence the progress of regulatory projects in the sector.
One of these projects is the Clarity Act, cited by the vehicle as favorable to the crypto sector. According to Money Times, the election could influence the progress of the proposal. Part of the market, which the report does not identify, assesses that, if Republicans maintain control of Congress, the chance of friendlier regulation increases.
In the view of those who defend fiscal responsibility, free markets and predictable rules, the central point goes beyond who wins the dispute. The crypto sector, like any economic activity, tends to develop better when the rules are clear and stable, without depending on case-by-case interpretations. The discussion, therefore, is about the existence of a predictable legal framework for digital assets.
What changes for the investor
For those who invest and operate, the scenario calls for monitoring, not hasty conclusions. The one-day increase does not erase the week's drop, and the result of the American elections could change the perception of regulatory risk regarding the sector. It is worth observing three points: the outcome of the vote, the progress of the Clarity Act and the behavior of prices in the next trading sessions. This report does not provide price projections or purchase or sale recommendations.
Automatically translated from Portuguese.
