Crypto Week at a Glance: US election, spot ETF inflows, and global developments fuel bitcoin rally
crypto market. Let’s dive into the key factors that have fueled Bitcoin's recent price action.
Increased Odds of Trump’s Victory
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-114374368»>It is a known fact that former President Donald Trump is the most pro-crypto candidate that the US has seen so far and the crypto community has been rooting for his return to the White House. With promises to form a Bitcoin strategic reserve and strong statements like making the US the powerhouse of crypto have strengthened vast investors confidence. With the odds of Trump’s victory increasing to 60% in the polymarket, many new investors have entered the crypto markets to capitalize on the growing asset class.
Trump’s influence in the crypto world has already been demonstrated by the success of «World Liberty Financial,» a DeFi venture backed by him. The project raised over $220 million through token sales within just an hour, signalling both Trump’s commitment to the industry and investor confidence.
Meanwhile, Democratic candidate Kamala Harris has also expressed interest in introducing a clear regulatory framework for cryptocurrencies, further appealing to the crypto community. With both sides recognizing the growing importance of digital assets, investors are hoping that the election could bring
