Standard Chartered pointed out in its latest report that Bitcoin may re-challenge all-time highs before the U.S. presidential election, reaching nearly $73,800, mainly due to inflows from Bitcoin ETFs, rising demand for call options, and former President Trump. The probability of winning in the prediction market once again surpassed that of He Jinli.
ETF Inflows and Options Markets
According to a Standard Chartered report cited by Decrypt, total inflows into Bitcoin ETFs have exceeded $19 billion, corresponding to an increase in holdings of approximately 315,000 Bitcoins, indicating that interest from institutional investors is rising, while $80,000 in Bitcoin call options are outstanding. The number of open positions also increased, further strengthening the bullish sentiment in the market.
Political factors influence
Standard Chartered believes that the recent trend of Bitcoin has shown a strong correlation with the political development of the United States. In particular, although Trump’s approval rating was once overtaken after the debate with Harris, Trump’s recent victory rate on Polymarket has increased again and slightly widened the gap.
Source: X
Institutions are bullish on BTC
In addition to Standard Chartered, Wall Street investment bank Bernstein Research issued a similar bullish report, noting that Bitcoin has risen 14% in the past month and remains stable above $65,000.
Bitcoin ETFs recorded net inflows of more than $550 million on the 14th, a trend we have not seen in several weeks. We believe this is due to the increasing legitimacy of the digital asset ecosystem, and global asset management companies are preparing for Wealth advisors and private banks have laid the foundation for broader participation, which we believe will lead to accelerated capital inflows, which is also reflected in the recent trend of Bitcoin. Analyst CryptoQuant mentioned that open interest in Bitcoin across all exchanges hit a record high of $19.7 billion on October 15, indicating that liquidity is continuing to pour in.
Bitcoin once approached US$68,000 on the evening of the 15th, hitting its highest level since July, but later fell back to US$65,000 and was at US$66,810 at the time of writing.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
This article is reprinted with permission from: (Lian News)
