Bitcoin remains flat near record highs of $72k, influenced by Fed cues and elections

From Investing.com
October 31, 2024 03:30 AM:

Bitcoin remained flat on Thursday near record highs, awaiting cues on the U.S. economy and elections. Trading at $72,445.8, the cryptocurrency was less than $2,000 away from its peak of $73,798. Recent gains were fueled by speculation on a Trump victory, despite tight race polls causing market uncertainty.

Microstrategy plans a $42 billion capital raise in the next three years to buy more Bitcoin. Chairman Michael Saylor announced the move alongside disappointing third-quarter earnings, which showed a loss of $1.56 per share, missing expectations. The company currently holds approximately 252,220 Bitcoin as of September 30.

Altcoins held steady as Bitcoin rallied, with a focus on upcoming economic data and the Federal Reserve meeting. Ethereum dropped 0.1% to $2,649.94, while Litecoin, Ripple, and Dogecoin fell between 0.8% and 2.6%. Meme token Shiba Inu dropped 2.7% after strong gains driven by election speculation.

Read more at Investing.com: steady at $72k with Fed cues, elections in focus By Investing.com