Cryptocurrency prices were mostly flat on Sep. 23 as traders embraced a wait-and-see approach after last week’s Federal Reserve decision.

Bitcoin (BTC) rose to a multi-week high of $64,741 and then quickly pulled back to $63,377 while Ethereum (ETH) rose to $2,680.

This price action mirrored that of the stock market, as major U.S. indices like the Dow Jones, Nasdaq 100, and S&P 500 showed little movement.

Nevertheless, some popular cryptocurrencies continued to rally. Neiro (NEIRO), a widely known meme coin, surged to a record high of $0.0012, bringing its market cap to over $484 million. It has become the ninth-largest meme coin, surpassing the likes of Book of Meme, Cat in a Dog’s World, and Mog Coin.

Immutable X (IMX), a popular layer-2 network for gaming and non-fungible tokens, soared to $1.9481, its highest level since June 4. It has risen for seven consecutive days, more than doubling from its August low.

Immutable has rallied due to its growing popularity among game developers. Last week, Immortal Rising 2 was deployed on its zkEVM network, a significant milestone since the game has thousands of players globally.

Other newly launched games on the network include RavenQuest Phase 2, The Tree Verse, and Arise.

These games have led to an increase in NFT sales on Immutable. Data from CryptoSlam shows that total sales rose by over 16% to $3.4 million in the past seven days, led by Guild of Guardians Heroes, whose sales jumped by 17%.

Arkham (ARKM) was another top-performing cryptocurrency, rising to a high of $1.42, its highest level since July 19. The token has gained popularity due to the extensive data available on its ecosystem.

Arkham price rebounded after forming a double-bottom chart pattern on the daily chart. In technical analysis, this is one of the most bullish signs in the market. It has risen above its neckline at $1.40, indicating potential for further gains.

An analyst from one of the biggest asset managers in crypto says any result of the November election will end up being bullish for Bitcoin (BTC).

In a new report for VanEck, Matthew Sigel, the firm’s head of digital asset research, says that the US federal election will likely have a significant impact on the crypto space, but will be bullish for Bitcoin regardless of which party wins.

Sigel says that both Kamala Harris and Donald Trump are bullish for Bitcoin, with only nuanced implications for digital assets.

Sigel adds both candidates will likely maintain fiscal spending – or increase it – which could lead to further quantitative easing (QE), which has historically been bullish for the asset class.

Should Kamala Harris win the November election, Sigel sees Bitcoin outperforming the broader crypto market.

“Suppose Kamala Harris were to retain Gary Gensler as SEC Chair or align closely with the Elizabeth Warren wing of the Democratic Party when it comes to finance policy, which looks increasingly likely. In that case, the digital assets industry generally is expected to confront a tightening regulatory environment that would dampen institutional adoption of digital assets in the U.S., further restricting domestic entrepreneurial activity.

On Bitcoin alone, however, we would argue that a Kamala Harris presidency might be even better for Bitcoin than a second term for Trump because it would, in our view, accelerate many of the structural issues that drive Bitcoin adoption in the first place…

Should that happen, Bitcoin’s unique regulatory clarity will likely make it even more competitive than other digital assets.”

Conversely, Sigel says the firm believes that another four years of Donald Trump is “generally bullish for the entire crypto ecosystem” as the administration is likely to be more business-friendly, particularly to crypto, perhaps.

“Regardless of the election outcome, the trend of growing fiscal deficits and rising national debt will likely continue. This suggests a weakening of the U.S. dollar, a macroeconomic environment in which Bitcoin has historically thrived.”

At time of writing, Bitcoin is trading for $63,769, up 1.12% in the past day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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“To build that opportunity economy, I will bring together labor, small business, founders and innovators, and major companies. We will partner together to invest in America’s competitiveness, to invest in America’s future,” Bloomberg quoted Harris as saying. “We will encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road.”