Analysis of Prices on 11/4: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin is making headlines as it trades below $70,000 ahead of the upcoming elections. Many are wondering if altcoins will follow suit or break away from Bitcoin’s trend.

Recent data suggests that Bitcoin might hit a new all-time high this week, with the elections and the Federal Reserve’s decisions likely to increase market volatility. Some traders predict a significant price swing of at least 10% depending on the election outcome.

Investors seem optimistic going into the elections, as shown by the $2.2 billion inflow into digital assets last week, primarily into Bitcoin.

However, not everyone shares this bullish sentiment in the short term. Trading firm QCP Capital has warned of a potential sell-off post-election.

Turning to market performance, the S&P 500 Index is showing signs of weakening bullish momentum as it hovers below the 20-day moving average. On the other hand, the US Dollar Index is struggling to maintain higher levels, facing resistance at the 20-day moving average.

For Bitcoin, buyers are struggling to push the price above $70,000, with potential support at $65,000. Ether is also under pressure, trying to defend the symmetrical triangle pattern’s support line.

BNB continues to trade between $460 and $635, with support at $527. Meanwhile, Solana slipped below the breakout level of $164, signaling a rejection by the markets.

XRP is locked in a battle near the $0.50 support, with potential downside to $0.46. Dogecoin is trying to find support at the 20-day moving average, aiming for resistance at $0.18.

Toncoin is struggling to move above the moving averages, finding support in the $4.72 to $4.44 range. A breakdown could lead to further decline, possibly forming a bearish pattern.

As traders speculate on the impact of the elections and other market events, all eyes will be on Bitcoin and altcoins to see how they navigate the current landscape.