Bitcoin price rallies within $200 of a new all-time high as several fundamentals point to the crypto bull marking picking up pace.
Bitcoin ETF news
The “mini” trusts spun off from Grayscale’s legacy Bitcoin and Ether funds in July.
Bitcoin derivatives markets are setting up for a potential BTC rally above $80,000 before the end of 2025, fueled by excitement over a potential Trump victory.
Jack Dorsey’s Bitcoin-friendly financial services firm Block saw its stock rally 13% in October, coming in line with bullish market action.
Bitcoin has topped $70,000, its highest price since June after US-based ETFs surpassed total joint lifetime net inflows of over $22 billion.
According to CoinShares, anticipation for the United States elections and Republican gains are fueling bullish market sentiment.
It’s the first United States university endowment to report holding Bitcoin ETFs, according to Bloomberg.
Bitcoin ETFs are recording solid buying, a sign that traders believe to be an indicator that BTC will break through the range highs.
Spot Bitcoin ETFs will need to make an average of $301 million in net inflows per day to get it done this week.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.