PANews reported on November 3 that Bitcoin has recently broken upward, and amid speculation about the potential outcomes of the U.S. election, it is expected to reach a historic high. The correlation between Bitcoin prices and fund inflows is anticipated to further increase, with liquidity becoming an increasingly significant price driver.
Last week, there was a massive influx of global funds into the Bitcoin spot exchange-traded fund (ETF) in the U.S. market, with the market betting on Trump's victory in the U.S. election. His support for Bitcoin is seen as the 'Trump trade'. The market expects that the size of the U.S. spot Bitcoin ETF could double by 2025 and grow fourfold by 2027. The investment options in Hong Kong that are linked to Bitcoin are also worth watching.
