The Bitcoin price seems to have reached a standstill, just 10 days before the US presidential election. Now analysts are looking at next week’s inflation numbers and jobs report as the next big catalyst for BTC price action.

Bitcoin fell slightly from testing the $70,000 level earlier this week to settle at around $68,000, up 0.8% on the day and 0.5% on the week, according to data from CoinGecko.

“After hitting a high of $68,850, Bitcoin corrected slightly towards the end of the day, but maintained a strong price level,” BRN analyst Valentin Fournier said in a note with decrypts. “This suggests a potential build-up phase around $67,500, which could pave the way for further price growth.”

The price is expected to drop slightly, said Yuya Hasegawa, a market analyst at Japanese crypto exchange Bitbank.

“From a technical perspective, a small pullback after a breakout is in line with the playbook and the market shouldn’t be too disappointed with this week’s price action,” he wrote in a note filed with decrypts.

According to CoinGecko data, the world’s oldest and largest cryptocurrency by market cap saw $30 billion worth of BTC change hands in the past 24 hours.

Bitcoin is gearing up for next week

Next week, Hasegawa said traders should expect the personal spending report — due out on Halloween, or October 31— and the jobs report November 1.

In addition to these reports, the Federal Reserve will issue a decision on interest rates on November 7, just two days after the presidential election.

As of yesterday, Vice President Kamala Harris and former President Donald Trump are still very close in the polls. FiveThirtyEight has Harris slightly ahead with 48.1% to Trump’s 46.4%.

On the crypto betting site Polymarket, a whale recently placed a 2 million dollar bet on Harris to win. Not long after there were reports that some of the platform’s biggest bettors in the election, which increased 2.4 billion dollar betface more internal control.