In today's cryptocurrency news, Bitcoin has shown a significant upward movement, currently trading at around $64,124. This surge, which represents a 5.5% increase from its recent low, is attributed to a combination of factors, including bearish market sentiment, increased accumulation by investors, and the liquidation of short positions. Additionally, the recent Bitcoin halving, which reduced the block rewards for miners, is also contributing to this price rally by limiting new supply.

Elsewhere in the crypto market, there have been notable developments, including the ongoing regulatory discussions in the U.S. around prediction markets and election betting contracts, which could have broader implications for crypto-based platforms.

These trends underscore a broader market recovery and sustained interest in Bitcoin as a long-term asset, driven by factors like increased institutional involvement and the introduction of Bitcoin ETFs earlier this year.