Bitcoin was flying high earlier this week, with the price of the leading cryptocurrency topping $73,000—coming a mere $175 away from its all-time high price—while U.S. ETFs took in record-breaking funds.
But now, Bitcoin has dipped below $69,000 multiple times over the last 24 hours, while ETF flows stalled out on Thursday. What happened? While there’s no single, obvious cause, Bybit analysts said that short-term volatility has peaked ahead of Election Day next week, similar to the period before January’s spot ETF approvals.
In other words, expect some price spikes. Even so, the expected “Uptober” gains last month definitely arrived, and analysts believe that the U.S. election outcome will be bullish for the price of Bitcoin—no matter who comes out on top.
Bitcoin ETF Momentum Goes Slack After 6-Day Streak
Inflows to Bitcoin ETFs have cooled off, after the investment products pulled in almost $3 billion over the past six trading days.
Mt. Gox Moves $35 Million in Bitcoin to Cold Storage After Postponing Repayments
With another year to complete repayments from a decade-old attack, Mt. Gox moved 500 Bitcoin ($35 million) to cold storage late Thursday.
Ethereum Gaming Firm Immutable Says SEC Is Threatening Lawsuit Over IMX Token Sales
Like OpenSea, Uniswap, and other crypto firms, Immutable says it is the target of SEC scrutiny—describing the notice as an “overreach.”
Financial services firm Strive, which was co-founded by Donald Trump advisor Vivek Ramaswamy, will begin offering Bitcoin under a new wealth management business.
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