October 20 Crypto Market Update: Latest Altcoin Movements

As the weekend progresses, the leading cryptocurrency, Bitcoin (BTC), continues to hold steady above the $68,000 mark, despite a significant decrease in trading volumes. While it's common for volumes to dip during weekends, the fact that prices have not fallen sharply like in previous weeks is a positive sign.

Bitcoin Market Outlook

With just under two weeks until the U.S. Presidential election, crypto investors are eagerly watching the developments. Although some sources suggest Kamala Harris is leading in the polls, speculative crypto markets show Donald Trump gaining significant ground. The speculative nature of the crypto market makes it an interesting place to compare traditional polling data with predictive market trends.

Despite Harris's lead in mainstream polls, her relatively neutral stance on cryptocurrencies indicates that either election outcome may not be disastrous for crypto. Investors seem optimistic, as Bitcoin remains stable above $68,000, with the potential to test $73,777 in the coming days.

Altcoin Performance Review

The last week has been eventful for altcoins. Dogecoin (DOGE) made a notable comeback, reaching $0.14 after a long time. ApeCoin was another standout, surging nearly 70%, crossing the $1.20 mark after a strong 24-hour performance. Other notable altcoins such as ENA, MEW, and WLD also experienced double-digit gains.

However, today's trading volumes have dropped by 40%, bringing the total down to $41.6 billion. The overall crypto market cap stands at $2.34 trillion. Some altcoins, such as TAO, POPCAT, and SEI, which posted strong gains earlier, saw losses of 11% to 17% this past week.

If Bitcoin tests its all-time high (ATH) again in the coming days, we could see many altcoins posting double-digit moves. Assets like SHIB and DOGE have shown solid performance, indicating a potential for sustained recovery.