TechFlow news, October 29 — According to The Block, during Tuesday's early trading session, Bitcoin's price rose from $69,000 to firmly surpass the $71,000 mark, reflecting growing trader optimism ahead of the U.S. election one week later.
Analysts noted that improving technical indicators, renewed inflows into spot Bitcoin ETFs, and broader macro factors—including speculation around a Trump victory and seasonal strength in fourth-quarter markets—are supporting Bitcoin’s continued upward trajectory.
"The 'Trump trade' narrative combined with favorable Q4 seasonality has created a perfect storm for Bitcoin," said Bitfinex analysts. "While price volatility may occur ahead of the election, we are likely entering an exciting period." Options markets also reflect bullish sentiment, with call positioning suggesting that Bitcoin—the largest digital asset by market cap—could rise above $80,000 by year-end.
