Beyond $70K: Microsoft Vote and Political Forecasts Frame Bitcoin’s Next Chapter

In a confluence of developments that highlight Bitcoin’s growing mainstream adoption, the cryptocurrency market is experiencing significant attention from both institutional players and political forecasters, while maintaining its position above $67,000.

Microsoft Shareholders to Vote on Bitcoin Investment

Microsoft shareholders are preparing for a pivotal December vote that could push the tech giant to evaluate Bitcoin as a potential treasury asset. The proposal, initiated by the National Center for Public Policy Research (NCPPR), draws attention to MicroStrategy’s successful Bitcoin investment strategy, which has outperformed Microsoft by over 300% this year.

Despite the NCPPR’s compelling argument for even a modest 1% allocation to Bitcoin as an inflation hedge, Microsoft’s board is recommending shareholders vote against the proposal, citing their existing practice of evaluating “a wide range of investable assets.”

Political Implications for Bitcoin’s Price

Standard Chartered Bank has released a bold prediction suggesting Bitcoin could reach $125,000 by year-end if Republicans dominate the upcoming U.S. Congress. According to analyst Geoff Kendrick, Bitcoin is expected to trade at approximately $73,000 by Election Day, with potential for significant upside in the event of a Trump victory.

Key predictions include:

• 4% immediate rise upon a Trump win announcement
• Additional 10% surge in the following days
• $75,000 year-end target under a Harris victory scenario

Current betting markets show strong confidence in a Trump victory, with RealClearPolitics indicating 59% odds and Polymarket suggesting 75% probability.

BTC/USD Technical Analysis Points to New Investor Influence

Recent market data suggests that new investors could be the key catalyst for Bitcoin’s next major move. Analysis of Unspent Transaction Outputs (UTXOs) reveals several critical insights:

• Only 8.6% of Bitcoin investors are currently at a loss
• UTXO decline under six months has stabilized
• Historical patterns suggest price surges follow UTXO stabilization
• Market sentiment improvement typically precedes significant rallies

Short-term Price Action

Bitcoin’s technical indicators show constructive price action with immediate support at $67,500 and resistance at $68,800. A bullish trend line has formed with support at $67,450, suggesting potential for continued upward momentum. Key levels to watch:

Resistance levels:

• $68,500
• $68,800
• $69,500
• $70,000 (psychological barrier)

Support levels:

• $67,500
• $67,000
• $66,000

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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