Bitcoin stabilizes at $ 68,000, meme coins rise, while the focus is shifted to Poodlana

The Bitcoin price recorded an increase for the second time in a row; And ended stable the week over the resistance-turn-up support zone of 68,000. On Friday he reached a level that was last recorded at the end of July after he rose by 17 % in about a week. At the time of writing this article, BTC was traded at $ 68,440.47.

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The risk of risk, which increased the attractiveness of Bitcoin and other cryptocurrencies in the last sessions, can also be observed on the US stock market. In fact, both the Dow Jones Industrial Average Index and the S&P 500 ended on a new record high. At the same time, the Nasdaq 100 remained stable over $ 20,000, since the bulls had the all-time high, which was reached in mid-July 2024 at $ 20,702.

signs of a robust US economy have contributed to the recovery of the cryptocurrency market and the general risk to risk. The latest data, including the job report and retail sales in September, were better than expected. The resulting increase in consumer confidence has led to the US dollar recorded an increase for three weeks in a row. On Thursday, he expanded the profits to a level that was last reached in early August before it went back slightly on Friday.

In addition, interest reductions of the Federal Reserve contributed to the positive market mood. As can be seen on CoinmarketCap, the fear and greed index is 60 after it was with a neutral value of 46 last week. During its September meeting, the US Federal Reserve lowered the interest of 50 basis points; The first in four years. In particular, an environment of lower interest rates tends to attract investors to risky assets such as cryptocurrencies.

US elections and bitcoin ETF inflows

The markets are now looking forward to the next Fed session on November 7, just two days after the closely observed US elections. In addition to the expected interest rate reduction by 25 basis points, a Trump victory will probably bring further profits for cryptos.

The presidential candidate not only has a crypto company, but also openly represented a pro crypto position. According to Polymarket, Trump's chances of winning the elections are 59.9 % compared to 40.1 % at Kamala Harris. This forecast already suggests that more traders invest in the cryptom market as there are elections on the horizon.

In addition, the inflows in Bitcoin ETFs increase. According to Sosovalue, the daily overall Netto inflow was $ 273.71 million on October 18. The net inflows have been accumulating to $ 20.94 billion since the beginning of the year.

The Poodlena token could experience a comeback

As so often, meme coins move parallel to the price movement of Bitcoin. Creation of irresistible possibilities for clever investors. As can be seen on Coingecko, the meme market capitalization is $ 63 billion, which corresponds to an increase of 0.3 % within 24 hours. In the last 7 days, meme coins such as Dogecoin, Floki, Bonk, Cats in A Dogs World and Book of Meme have risen by 28.1 %, 12.3 %, 8.0 %, 25.5 %and 19.7 %.

Pudelana A newly introduced cryptocurrency based on the Solana network is a highlight for both meme coin enthusiasts and fashion-oriented investors. Their attractiveness is largely based on the principle of cost efficiency of the Solana blockchain and its connection to the luxury fashion industry. In addition, the recent decline has created an ideal purchase for investors who are looking for cheaper options.

In addition, the geopolitical tensions in the Middle East and caution with regard to economic stability in the USA, China and worldwide investors will continue to persuade Bitcoin as a safe port. It is expected that a further increase in top cryptocurrency will use its market capitalization to lead to a recovery of alternative cryptocurrencies such as Poodlena. You can orient yourself more about it .