Bitcoin nears $66k due to optimism around Trump and potential ETF approvals, despite Mt Gox fears

From Investing.com

July 17, 2024
2:11 am:

Bitcoin price saw a rise due to optimism around a Trump presidency and potential ETF approvals. It climbed 2% to $65,803.3 with hopes of a friendlier regulatory environment. Speculation over Ether ETFs and Fed interest rate cuts also boosted sentiment.

Mt Gox moved $2.8 billion in Bitcoin onto exchanges, causing fears of increased supply. The defunct exchange plans to return stolen tokens from a 2014 hack to creditors. Despite initial concerns, Bitcoin rebounded from four-month lows over the past four days.

Altcoins surged as well, with Ether rising 3.6% to $3,503.20 on ETF approval rumors. Ripple jumped 10% on settlement talks with the SEC. Dogecoin and Cardano also saw gains, while meme tokens like Shiba Inu and Dogecoin gained about 2.6% each.

Read more at Investing.com.: nears $66k as Trump bets largely offset Mt Gox fear By Investing.com