Bitcoin Surges Above $69,000, Approaching Historical High

Due to a significant influx of funds into Bitcoin spot ETFs and optimistic sentiment regarding U.S. regulatory prospects, BTC rose this Monday. Data shows that in the week ending October 18, net inflows into U.S. spot Bitcoin ETFs approached $2.4 billion, partly due to market bets that the cryptocurrency regulatory environment in the U.S. may become more favorable after the presidential election on November 5.

David Lawant, head of research at cryptocurrency brokerage FalconX, pointed out that the two key factors influencing BTC's market performance are the upcoming election and the global macroeconomic environment. In his report, he mentioned that the Bitcoin options market indicates, "The implied volatility for the forward period is significantly concentrated around the election date, while it weakens during the period before and after the election."

In the seven days ending last Sunday, Bitcoin rose nearly 10%, marking its best weekly performance in over a month. This indicates that market sentiment towards Bitcoin is warming up, especially driven by ETF inflows and potential regulatory changes. #BTC要挑战7W大关了吗？ #币安累计交易量突破100万亿美元 #特朗普家族加密项目