Bitcoin Rides the Bullish Wave, Surging to $70,000

Bitcoin (BTC) seems to be on a hot streak, closing in on its all-time high (ATH) after a brief correction last week.

Moments ago Bitcoin’s price surged to over $70,000 – a level last seen in June.

This represents a 2.75% jump in the past 24 hours with a trading volume of around $37.4 billion. Bitcoin’s market cap is currently at $1.384 trillion.

An it is not just BTC as other cryptocrrencies are gaining bullis hmomentum. For example Ethereum (ETH) registered a 2% surge in the past 24 hours and is on its way to break the $2,600 barrier.

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Dogcoin (DOGE) is the biggest winner during this period with a notable 13.55% surge to around $0.16 and a 24-hour trading volume of $3 billion.

The total crypto market cap is not at $2.36 trillion (+2.05% for the day).

At the time of publishing, Bitcoin retraced back to $69,900, but investor sentiment seems bullish, especially with the upcoming U.S. presidential election, the crypto community expects a new ATH and a continued upward trend.

Additionally, Bitcoin funds recorded $920 million in inflows for the week ending Oct. 25, bringing YTD inflows to $25.4 billion.

Kosta Gushterov