Author: 636Marx
As the 2024 US presidential election approaches, Bitcoin is showing signs of an early takeoff. This expectation is based on historical patterns, market dynamics, and geopolitical factors.
Crypto custodian Cactus Custody has completed Deloitte's SOC 2 Type II audit, meeting the security standards of the Asia-Pacific region. Cactus Custody was founded in 2019 by crypto veteran Wu Jihan and John Ge, and operates as a subsidiary of Matrixport, providing digital asset management services covering over 30 blockchains.
Circle, the driving force behind the US stablecoin USDC, is pushing forward with its initial public offering (IPO) plans. CEO Jeremy Allaire confirmed in an interview with Bloomberg that the company is committed to going public and does not currently need additional funding.
Tokyo-based Metaplanet has acquired over 156 BTC, worth around $10 million. This brings its total holdings to 1,108 BTC (worth $69 million), making it the largest corporate BTC holder in Asia.
Signs Indicate Bitcoin May Rise Before the US Election
Historically, Bitcoin has typically seen an upward trend in the months leading up to a US presidential election. This pattern has been observed in previous election cycles, often attributed to increased economic uncertainty and potential policy changes that could impact traditional financial markets. What are the indicators that could signal a potential Bitcoin rally?
Increased institutional interest: Major financial institutions adding Bitcoin to their balance sheets or offering crypto-related services to clients.
Technical analysis: Key technical indicators, such as the BTC moving average convergence divergence (MACD) and relative strength index (RSI), suggesting bullish momentum for Bitcoin.
Post-halving effect: The impact of the recent Bitcoin halving event is still unfolding, and historical data suggests that BTC prices often rally in the months following a halving.
Lastly, the upcoming US election, against a backdrop of global economic uncertainty and concerns about currency market inflation.
