Bitcoin surges to $72k near all-time high on election hopes, driven by Trump's pro-crypto stance

From Investing.com

October 30, 2024 01:58 AM:

Bitcoin surged on Wednesday, nearing record highs as speculation around the upcoming presidential election boosted cryptocurrency markets. The price of Bitcoin rose 2% to $72,456.8, just shy of its all-time high of $73,798.

The recent spike in Bitcoin and crypto prices is largely attributed to speculation that Donald Trump will win the election over Kamala Harris on November 5. Trump’s pro-crypto stance and promises of friendlier regulation have driven market optimism.

Altcoins saw moderate gains while Bitcoin rose, with Ethereum up 0.9% to $2,643.61. Meme token Dogecoin surged 6.8%, but caution remains as markets await key economic readings and central bank meetings.

Amidst the election speculation, markets are watching for upcoming economic data releases and central bank decisions. The Federal Reserve is expected to cut interest rates by 25 basis points, while China and Europe also have important meetings scheduled.

Read more at Investing.com: upbeat at $72k with record high close amid election hopes By Investing.com