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bitcoin price fell 1% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $56,141 at 3:40 a.m. EST on trading volume that fell 10% to $30 billion.
This comes as the odds of Kamala Harris becoming the next president are increasing on betting platforms like Polymarket. Harris's chances of victory rose from 46% to 49% under Trump after the debate.
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The world's largest prediction market.
Before the debate After the debate image.twitter.com/p1KjOOFZU1
— I/O (@eyeslasho) twitter.com/eyeslasho/status/1833706094117478603?ref_src=twsrc%5Etfw”>September 11, 2024
Additionally, Polymarket oddsmakers are indicating a 94% probability that Harris has won the debate. bitcoin briefly rose above the $58,000 market in the hours leading up to the debate, but fell to lows of around $56,700 during the debate, and is now trading below $56,300.
bitcoin Price Eyes Bullish Trend Reversal
bitcoin price fell from Aug. 29 to Sept. 7 as bears took control of the price at the $61,100 resistance to fall to the $53,500 support, data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.
This support allowed the bulls to stage a reversal of the uptrend, with bitcoin price rising through a marking phase to the resistance at $57,704, forming a rounding bottom pattern.
btc price is now trading below the 50-day and 200-day simple moving averages (SMA), coinciding with the recent downtrend that saw the price invalidate the rounding bottom pattern.
Additionally, the Relative Strength Index (RSI) shows that the token is currently under some selling pressure as it falls from the overbought region to the mid-50 level.
If the bearish sentiment continues, the bitcoin price could crash as the $54,000 support acts as a cushion against downward pressure.
However, the RSI shows that the asset could become undervalued soon, opening up the possibility of a rally. In such a scenario, btc price could surge towards the resistance of $61,100.
Meanwhile, investors are buying into Sponge V2 (SPONGE V2) token, which according to analysts such as Jacob Bury, with more than 42,000 subscribers, has the potential to skyrocket 100 times after launch.
Sponge V2: 100x performance potential
If you missed the Sponge V1 boost in 2023, there's a second chance with Sponge V2 (SPONGE V2)which aims to repeat that same feat and more, as it offers one last buying opportunity before its launch on major exchanges.
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Yeah twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It's great.
But twitter.com/search?q=%24SPONGE&src=ctag&ref_src=twsrc%5Etfw”>$SPONGE It's cooler. image.twitter.com/175bQlioxD
— $SPONGE (@spongeoneth) twitter.com/spongeoneth/status/1821848953639350320?ref_src=twsrc%5Etfw”>August 9, 2024
The inclusion of the token aims to improve the accessibility and visibility of $SPONGE V2 within the crypto community.
The sequel arrives as an improved version of Sponge V1, promising more meaningful rewards and a better ecosystem.
One of the key features of Sponge V2 is to betting systemoffering an APY of 39%. Over 11 billion $SPONGE V2 tokens have been staked so far.
The current price of the token is $0.000031. To participate in the pre-sale, You can buy Sponge V2 tokens on the official website here.
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