Investing.com– Bitcoin’s price dropped on Tuesday, pulling back from recent three-month highs as broader risk aversion- in anticipation of a tight U.S. presidential election- spilled over into cryptocurrency markets.
While speculation over a Donald Trump victory had initially boosted crypto prices, recent polls pointed to a tight race between Trump and Vice President Kamala Harris, denting risk appetite. Broader risk-driven assets retreated, which in turn weighed on sentiment towards crypto.
Strength in the dollar also pressured crypto prices, while safe haven demand saw hit record highs.
fell 1.8% to $66,974.0 by 09:12 ET (13:12 GMT). The token had risen as far as $69,000, but failed to break above $70,000, which was expected to mark a bullish turn for the token.
Election uncertainty weighs on Bitcoin
The world’s largest cryptocurrency was pulled off recent highs…
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