Investing.com– Bitcoin\u2019s price moved marginally on Monday after briefly hitting a three-month high amid increased speculation that Donald Trump will win the 2024 elections, with the token coming back in sight of record highs.\u00a0<\/p>\n
The world\u2019s biggest cryptocurrency rose sharply over the past week as recent polls and prediction markets pointed to a greater chance of a Trump victory, although analysts still called the presidential race too close to call.<\/p>\n
Bitcoin<\/span> slipped 0.2% to\u00a0$68,219.0 by 09:10 ET (13:10 GMT), and was about $5000 away from a record high. Crossing $70,000 is also set to be a key bullish signal for the token.<\/p>\n Recent polls and prediction markets showed increased odds of a Trump victory over Democratic nominee Kamala Harris. Crypto prediction market Polymarket showed a 60.7% chance of a Trump victory and a 39.1% chance of a Harris victory.<\/p>\n Trump has campaigned on a largely pro-crypto stance, promising to build the future of Bitcoin in America. His campaign also accepts donations in crypto.<\/p>\n The prospect of a Trump victory saw traders betting on more friendly crypto regulations in the U.S.- with regulation being a main point of contention for the industry in recent years, especially amid a series of high-profile lawsuits from the Securities and Exchange Commission and the Department of Justice.<\/p>\n Harris also recently pledged to a regulatory framework for crypto, although more details of her plans were not immediately clear.\u00a0<\/p>\n Still, with just over two weeks left to the ballot, markets are positioning for a tight presidential election.<\/p>\n This kept investors more favored to safe havens such as the dollar and gold, the latter of which hit a record high on Monday.\u00a0<\/p>\n Recent capital flows data also showed institutional investors resumed buying into cryptocurrencies over the past week.\u00a0<\/p>\n Bernstein analysts urged investors to build long positions in Bitcoin via ETFs or Bitcoin-related equities, as the cryptocurrency looks to break through resistance ahead of the US election.<\/p>\n \u201cBitcoin is attempting a break out of the $70K resistance (one more time) and like other risk-on markets, is interpreting rising Trump odds as bullish for crypto,” analysts said in a note.<\/p>\n They also highlighted that clear policy support for crypto from the Harris campaign has reduced downside fears.<\/p>\n “Bitcoin ETF inflows, crypto equity markets and retail trading sentiment is screaming \u2018risk-on\u2019,\u201d analysts added.<\/p>\n Bitcoin ETFs saw $2 billion in inflows last week, bringing total year-to-date inflows to $20.5 billion, while assets under management now exceed $63 billion.<\/p>\n Bernstein believes these inflows are increasingly driving demand in Bitcoin spot markets, as asset managers shift their focus toward wealth advisors and warehouses.<\/p>\n Tracking Bitcoin’s recent gains, broader crypto prices also climbed Monday as sentiment towards the sector improved.\u00a0<\/p>\n World no.2 crypto Ether<\/span> rose 1.7% to $2,694.72, hovering around 2 month highs.\u00a0<\/p>\n SOL<\/span> and ADA<\/span> climbed more than 4% and 2%, respectively, while XRP<\/span> added 2% and MATIC<\/span> rose around 1%.\u00a0<\/p>\n Among meme tokens, DOGE<\/span> rose over 4%.\u00a0<\/p>\n Ambar Warrick contributed to this report.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" [db:\u6458\u8981]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-4759","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts\/4759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/comments?post=4759"}],"version-history":[{"count":0,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts\/4759\/revisions"}],"wp:attachment":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/media?parent=4759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/categories?post=4759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/tags?post=4759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Trump bets buoy Bitcoin\u00a0<\/h2>\n
Buy Bitcoin, Bernstein analysts say<\/h2>\n
Crypto price today: altcoins in the green<\/h2>\n