Bitcoin Tops $68,000 as ETF Inflows and Election Bets Lift Crypto Market
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Bitcoin climbed above $68,000 on Thursday, reaching its highest level in more than a month as strong demand for spot exchange-traded funds and rising optimism around the U.S. election fueled a broad rally in digital assets.
The world’s largest cryptocurrency was supported by record inflows into spot Bitcoin ETFs, which drew a combined $1.2 billion this week, according to market data. The surge in institutional buying helped extend momentum across the crypto sector, with Ethereum rising about 5% as traders rotated into major tokens.
Market participants also pointed to growing speculation that the upcoming U.S. presidential election could bring a more favorable regulatory environment for cryptocurrencies. Investors have increasingly positioned for the possibility of pro-crypto policies, adding to bullish sentiment already driven by ETF demand.
Bitcoin’s latest move marks a sharp recovery from recent consolidation and underscores how closely the market is tracking both traditional financial flows and political developments. While volatility remains elevated, analysts say sustained ETF inflows and clearer policy signals could continue to support prices in the near term.
