Bitcoin rose 0.8% on October 21, hitting a three-month high of $69,400. This is the highest level since July, and the world's largest cryptocurrency is up 18% since October 10th.
Bitcoin hit its highest since July at $69,487 in early trading, before closing up 0.5% at $69,100. The world's largest cryptocurrency rose 9.6% last week and is up more than 8% in the month so far.
“Things are looking pretty good for Bitcoin here,” IG market analyst Tony Sycamore told Reuters, adding that it could continue to rally.
According to a report from Bloomberg, Bitcoin remained near the $70,000 level, with smaller tokens such as No. 2 Ether and top 10 coin Solana also rising.
Donald Trump's influence
According to Reuters, Bitcoin hit a three-month high in early Asian trading on October 21, due to the impact of the US presidential election scheduled for November and the tariff and tax policies proposed by Donald Trump. was recorded.
President Trump's policies are seen as favorable to the dollar and crypto regulation, he said, adding that his policy proposals would likely keep U.S. interest rates high and hurt the currencies of trading partners.
Inflows expected to Bitcoin ETF
Bitcoin also rose today as inflows into exchange-traded funds (ETFs) surged, according to a report from Bloomberg.
U.S. spot Bitcoin ETFs saw net inflows of about $2.4 billion in the six days ending Oct. 18, according to data compiled by Bloomberg. It added that this is partly based on a bet that US crypto regulation will become friendlier after the US presidential election on November 5th.
US SEC approves 11 Bitcoin ETFs for options trading on NYSE
The U.S. Securities and Exchange Commission (SEC) has granted “early approval” to 11 ETFs to list and trade options linked to spot Bitcoin prices on the New York Stock Exchange, according to Reuters.
Funds approved Friday include Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Grayscale Bitcoin Trust BTC, and iShares Bitcoin・Includes trust ETFs, etc.
The Bitcoin Index's index option, an exchange-traded derivative that can quickly and cheaply expand exposure to Bitcoin, will offer institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency.
(With inputs from Reuters and Bloomberg)
