Bitcoin continues its bullish trend, breaking the $73,000 barrier, as favorable market conditions boost the world's largest cryptocurrency. Bitcoin reached $73,544, marking its highest price since March 14th. The recent surge has led to a 13% gain in October, outperforming top performers in the S&P.
Ethereum and Binance Coin also showed growth, with Ethereum surging by 4% and Binance Coin increasing by 2%. Market analysts expect further gains for Bitcoin, partly due to Bitcoin ETF inflows and the upcoming US elections.
Bitcoin narrowly missed its all-time high but has potential for new record highs. Recent developments and favorable conditions, such as breaking a seven-month downtrend and liquidating short positions, contribute to this optimism.
Institutional interest in Bitcoin is rising, as significant inflows into Bitcoin ETFs and increasing curiosity in crypto futures demonstrate a positive attitude among market participants.
The upcoming US elections, with increasing odds of Trump winning and his pro-crypto stance, are also expected to influence Bitcoin’s price, potentially driving it to a new all-time high.
