Bitcoin's recent fluctuations reflect investor sentiment as it consolidates above $68,000 while navigating uncertainty surrounding the US presidential election, impacting market volatility.
The closeness of the US presidential race has made bullish bets on Bitcoin riskier, prompting significant outflows from spot ETFs and massive liquidations in futures.
Despite recent challenges, bullish sentiment surrounding a potential Trump win is evident, particularly in the options market, with over $3.1 billion in contracts expiring soon.
With over $540 million in outflows for Bitcoin ETFs and $300 million in futures liquidations, the market shows signs of volatility amid election anticipation.
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