Bitcoin nearing all-time high, profit-taking uncertain

Bitcoin may retest its all-time high of $73,750 between late October and November, according to Bitget chief research analyst Ryan Lee. Lee suggests a bullish breakout is likely, but potential sell-offs could occur based on investor sentiment leading up to the U.S. election, Cointelegraph has reported. Optimism has grown following rate cuts by the U.S. Federal Reserve and China's central bank. Lee believes confidence in a "pro-Bitcoin" U.S. president could deter traders from selling, anticipating larger profits.