Bitcoin Tops $68,000 as ETF Inflows and Election Bets Fuel Crypto Rally

Bitcoin climbed above $68,000 on Thursday, extending a sharp rally driven by heavy demand for spot exchange-traded funds and growing speculation that the U.S. election could produce a more crypto-friendly policy environment. The move came as spot Bitcoin ETFs recorded more than $1 billion in inflows this week, underscoring sustained institutional interest in the largest cryptocurrency.

The broader digital asset market also advanced. Ethereum rose about 5%, while several major altcoins posted gains as traders positioned for potential policy shifts tied to the election outcome. Market participants said the combination of strong ETF demand and improving sentiment helped lift prices across the sector.

Trading activity surged alongside the rally, with volumes on major exchanges reaching multi-month highs. Analysts noted that elevated turnover often signals stronger conviction among buyers and sellers, and may reflect renewed participation from both retail and institutional investors.

Bitcoin’s latest move adds to a volatile year marked by sharp swings in response to macroeconomic data, regulatory developments and ETF flows. For now, the market appears to be focused on whether continued inflows and political developments can sustain momentum above the $68,000 level.