Bitcoin reached 70 thousand dollars
For the first time since June 10, the price of Bitcoin has crossed the milestone of $70,000.
Bitcoin (BTC) jumped 3% in the last day to $70,150 on Oct. 28 before falling back below $70,000, TradingView data shows.
Bitcoin price change in 24 hours. Source: TradingView
His gains come alongside another significant boost to Bitcoin ETFs. As reported by CoinShares, Bitcoin currencies in 2018 A $920 million inflow was recorded for the week ending Oct. 25, bringing year-to-date revenue to $25.4 billion.
That's a big stake in 11 US spot-based ETFs for the week ending Oct. 18, accumulating more than $2.1 billion in net inflows, according to Farside Investors.
Many crypto traders also say that Bitcoin has seen a “golden-cross” – its 50-day moving average crosses above its 200-day long-term average in a bullish chart pattern – indicating the potential for a potential price discovery.
#BITCOIN GOLDEN CROSS ALERT!🚨 pic.twitter.com/d9fKlKkWud
— Crypto Rover (@rovercrc) October 28, 2024
Related: 3 Signs Bitcoin's ‘Parabolic Phase' Is About to Begin With $250K Target
Bitcoin hit a local low of $66,510 on October 25 after reports surfaced that stablecoin issuer Tether was being investigated by the US Department of Justice.
However, as Republican candidate Donald Trump won more than 32 percent of the points to run the US presidential election on November 5, Bitcoin price rebounded, according to Polymarket data.
Trump bias is not reflected in the polls, with a FiveThirtyEight Interactive poll showing Harris leading the former US president by 1.3 percentage points.
Bitcoin price may benefit from Iran's failure to retaliate against Israel following its October 26 attack.
Bitcoin is 5% away from its March 13 all-time high of $73,679 and is at its highest price since mid-May, pushing above a range-bound trading pattern that mostly stays between $55,000 and $65,000.
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