BTC price strength will be back with a vengeance early in 2025, analysis predicts, but the US Presidential Election will bug Bitcoin bulls until Inauguration Day.
Bitcoin news
After notching a three-month high last week, Bitcoin volatility has flattened out as traders await the outcome of the US election with bated breath.
The 11 US spot Bitcoin ETFs recorded a net outflow of $541.1 million for Nov. 4, their second-largest outflow day in history.
Medical device firm Semler Scientific has spent $71 million to buy 1,058 Bitcoin, adding another 181 Bitcoin to stash over Q3 and into the start of November.
Both firms partly attributed the rise in Bitcoin production to increasing their respective energized hash rates in October.
Microsoft has a “fiduciary duty” to do what is in the financial interests of shareholders and knocking back Bitcoin could go against those interests, a policy research center executive explained.
The US presidential race could determine the fate of more than half a dozen proposed crypto ETFs.
Cartwright reported that an “unnamed scheme” based in the UK had made a 3% allocation of Bitcoin into its pension fund.
Data suggests traders are ignoring the current Bitcoin price correction and betting for new highs after the US elections wrap up.
Network activity across all Internet Computer protocols has increased 150% year-over-year, according to Dfinity.