Investing.com– Bitcoin’s price steadied on Thursday after pulling back from recent highs as anticipation of a tight presidential election and relatively higher U.S. interest rates kept traders averse towards crypto.
Crypto trading volumes were also mostly subdued amid increased risk aversion, while overnight losses in stock markets also provided middling cues to crypto markets. Most altcoins also tracked muted moves in Bitcoin, while Solana rallied past its peers on increased activity on the blockchain.
rose 1.6% to $67,488.0 by 08:54 ET (12:54 GMT). The token tread water for the past two sessions after failing to break past $70,000 earlier this week.
Rates, election jitters pressure Bitcoin
Bitcoin had initially rallied on increased speculation that Donald Trump will win a second term in 2024. Recent polls and prediction markets also showed Trump with a slight edge over Democratic nominee…
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