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$14.1K: Bitcoin Breaks New 2020 High With US Election Still Undecided
Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.
Updated Sep 14, 2021, 10:27 a.m. Published Nov 4, 2020, 5:31 p.m.
Bitcoin has broken fresh 2020 highs as uncertainty remains in the U.S. presidential election.
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- At around noon ET (17:00 UTC), the world's oldest and most valuable cryptocurrency broke the $14,100 resistance level that had proved difficult to scale for the bulls four days prior on Oct. 31.
- As of this writing, bitcoin (BTC) was changing hands at around $14,166.25 after rebounding from Nov. 2 lows, near former resistance now confirmed as support at around $13,250.
- Over the past 24 hours, bitcoin has ranged between $13,545 and $14,223, according to CoinDesk 20 data.
- The difference in bitcoin's price action compared to four years ago has been relatively small. Bitcoin’s price failed to react immediately after the 2016 election, rising a scant 1.8% in the 24-hour trading period. However, it is worth noting that roughly a year later, bitcoin climbed to its all-time highs above $19,660.
COMMENTARY: CoinDesk Covers the 2020 US Election and Crypto Impact
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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