bullish

Bitcoin

BlackRock

<ul class="wp-block-list">
 <li>Bitcoin rises to $71,500, fueled by ETF demand and election uncertainty, nearing its all-time high.</li>  
 <li>Key metrics suggest Bitcoin's bullish trend, with miner accumulation and tight Bollinger Bands signaling growth.</li>  
 <li>Bitcoin ETFs see $3B inflows, with BlackRock leading; election catalysts could push BTC to historic highs.</li> 
</ul>  
<p>Bitcoin rallied over 5% today hitting $71,500 and getting close to an all time high of $73,700. The surge coincides with a new wave of market speculation ahead of the U.S. presidential election. As BTC surges, Investors see It as a hedge against Election induced volatility in the market.</p>  
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<h2 class="wp-block-heading" id="h-bitcoin-s-price-following-recent-volatility"><strong>Bitcoin’s Price Following Recent Volatility</strong></h2>  
<p>Following a small drop below $66,000 last week, Bitcoin recovered during the weekend, <a href="https://cryptonewsland.com/bitcoin-price-spikes-and-retraces-leaving-traders-cautious-over-important-resistance-barriers/" target="_blank" rel="noopener noreferrer nofollow">staying steady</a> in the $67,000 to $68,000 range. After this consolidation, BTC surpassed $70,000, reaching a peak not seen in four months. Analysts observe that important signs indicate continued upward movement for the price of Bitcoin.</p>  
<p>The <a href="https://www.investopedia.com/terms/b/bollingerbands.asp" target="_blank" rel="noopener noreferrer nofollow">Bollinger Bands</a> have tightened to historic levels, creating a Bollinger Squeeze. This technical pattern often signals low volatility, typically preceding sharp price movements.&nbsp;</p>  
<p>Additionally, the Miner Position Index (<a href="https://cryptoquant.com/asset/btc/chart/flow-indicator/miners-position-index-mpi?window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" target="_blank" rel="noopener noreferrer nofollow">MPI</a>) shows miners are now holding their Bitcoin, indicating an accumulation phase. Rising block rewards further underscore a bullish outlook, encouraging optimism among market participants.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-etfs-attract-strong-inflows"><strong>Bitcoin ETFs Attract Strong Inflows</strong></h2>  
<p>Investor interest in Bitcoin ETFs continues to grow. Data from <a href="https://farside.co.uk/btc/" target="_blank" rel="noopener noreferrer nofollow">Farside Investors</a> indicates U.S.-listed Bitcoin ETFs saw $3 billion in net inflows over the past two weeks. Notably, no outflows have been reported during this period, emphasizing sustained demand.</p>  
<p>On Monday, BTC ETFs collectively attracted $479 million in fresh capital, with BlackRock leading the charge. BlackRock alone got $315 million in net purchases, showing continued institutional confidence in BTC.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-upcoming-election-and-etf-demand-nbsp"><strong>Upcoming Election and ETF Demand&nbsp;</strong></h2>  
<p>Analysts at Standard Chartered <a href="https://cryptonewsland.com/standard-chartered-predicts-bitcoin-to-surge-to-73000-on-us-election-day/" target="_blank" rel="noopener noreferrer nofollow">project</a> BTC could reach $73,000 by Election Day on November 5. A Republican win could lead to a further surge, potentially driving BTC to around $80,000. If Republicans secure Congress, analysts speculate Bitcoin’s price might even reach $125,000 by year’s end.&nbsp;</p>  
<p>Analysts from Bitfinex agree, suggesting the election could serve as a catalyst, elevating BTC’s price due to increased market activity and volatility. This combination of ETF inflows, election uncertainty, and miner activity could significantly impact BTC’s market trajectory.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-surges-past-71500-amid-u-s-election-tensions/" rel="noopener noreferrer nofollow">Bitcoin Surges Past $71,500 Amid U.S. Election Tensions, Approaching All-Time High</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Surges Past $71,500 Amid U.S. Election Tensions, Approaching All-Time High

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