Cryptocurrency prices, including Bitcoin, fall as Wall Street selloff impacts market, Bitcoin down 2.35%.

From Investing.com
October 31, 2024 12:25 PM:

Cryptocurrency prices fell as Wall Street’s risk-off mode dragged down the market, with Bitcoin trading around $70,600, down 2.35% in 24 hours. Despite the slump, Bitcoin climbed over 8% this week, with spot Bitcoin ETFs seeing strong inflows of $893 million. Traders are eyeing the U.S. presidential election and economic reports for rate cut hints.

Stocks slipped as Microsoft and Meta’s warnings on rising AI expenses dampened enthusiasm for megacap stocks. Meta shares dropped 2.8% and Microsoft fell 5.1%, despite beating earnings expectations. Bitcoin has been approaching its all-time high, reaching over $73,500 this week, just before the U.S. elections—a bullish time for many traders.

Polls show a tight race between Donald Trump and Kamala Harris, fueling market speculation as Bitcoin nears its all-time high of $73,798. The recent surge has brought Bitcoin close to this peak, adding to pre-election excitement in the market.

Read more at Investing.com: Bitcoin, Ethereum, Polkadot dip as Wall Street selloff mood hits risk assets By Investing.com