Bitcoin price surges near record high on regulatory hopes and capital inflows

From Investing.com

October 16, 2024 01:37 AM:

Bitcoin’s price rose, nearing a 2-½ month high amidst hopes for friendlier U.S. crypto regulations and increased capital inflows. Currently $7000 away from breaking record highs, the cryptocurrency is trading at $67,099.1.

Democratic candidate Kamala Harris pledged to establish a solid crypto regulatory framework, aligning with Trump’s pro-crypto stance. Trump’s World Liberty Financial crypto project raised $220 million in token sales, fueling speculation on favorable crypto policies under a potential Trump presidency.

Crypto investment products received $407 million in inflows, predominantly in Bitcoin, driven by optimism around a possible Trump win in the 2024 elections. Altcoins showed mixed performance, lagging behind Bitcoin. Ethereum rose by 0.8% to $2,616.78, while other major altcoins experienced mild declines.

Read more at Investing.com: up to $67k on regulatory hopes, improved capital flows By Investing.com