The biggest cryptocurrencies were fluctuating to start the new week while Bernstein analysts said investors are "leaning bullish" with about two weeks to go until the US presidential election.đŻđŻ
Bitcoin slipped about 0.1% over the past 24 hours to $68,331, but was still up more than 5% over the past seven days. Ethereum (ETH) rose 2.3% in the past day to trade at $2,709.
The total global crypto market cap was up 0.6% to $2.33 trillion. The CoinDesk Market Index was also up 0.6%.đŻđŻ
"With US elections around the corner, and bitcoin (again) attempting to break out to all-time-highs, we believe the market is leaning bullish, Bernstein analysts wrote in a note to clients. "We would recommend investors to seek bitcoin long exposure via ETFs or bitcoin-related equities we cover," they said.
đđBitcoin exchange-traded funds have seen six consecutive days of net positive inflows through Friday, according to data compiled by Farside Investors. Last week, investors added more than $2.13 billion. Ethereum ETFs posted a total of net $78.8 million of inflows last week.
The Federal Reserve's Beige Book is set for release on Wednesday at 2 pm ET. The qualitative summary of economic conditions gathered by each of the Fed districts will include the time periods after hurricanes Helene and Milton.đđ
September existing home sales data is slated for Wednesday at 10 am and new home sales data is due at the same time on Thursday.â â
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