#cryptonews
Bitcoin price is showing strength, reaching $67,600 with a 0.92% increase today. As market sentiment remains bullish, factors like potential regulatory shifts and rising institutional interest continue to support Bitcoin’s climb.
Prices rose as a result of this news, which raised demand for Bitcoin and the larger cryptocurrency market. With Trump’s increasing chances of winning the presidency again, investors are expecting more pro-crypto legislation under his prospective administration.
Donald Trump’s bold declaration that “Crypto is the future” and his introduction of a new cryptocurrency had a major impact on Bitcoin’s rise to about $70,000.
The price spike is being driven by several factors, such as robust inflows into Bitcoin ETFs, a resurgence of interest in call options, and rising prospects for Donald Trump in the election.
According to Standard Chartered, Bitcoin might hit its former peak of $73,800 before the US presidential election.
Bitcoin Poised to Hit Record High Before US Election, Says Standard Chartered
Inflows into Bitcoin ETFs have topped $19 billion, indicating a steady increase in institutional demand. As the election draws closer, analysts predict this momentum will drive Bitcoin higher; $73,800 is the next barrier mark. A Trump victory, which is viewed as positive for the cryptocurrency industry, might further bolster Bitcoin’s growth. The price of Bitcoin, which is currently at $67,000, is rising as a result of institutional inflows, good sentiment, and greater demand.
This fund follows Bitcoin, Ethereum, Solana, XRP, and Avalanche. On October 14, the New York Stock Exchange submitted the request on Grayscale’s behalf to make share purchases and sales easier.
Grayscale has requested the SEC to turn its $524 million Digital Large Cap Fund into an exchange-traded fund.
