Bitcoin tops $70,000... ETF inflows drive price rise

Bitcoin (BTC) prices have surpassed the $70,000 mark for the first time since July 29. The rise has been driven by massive inflows into Bitcoin spot exchange-traded funds (ETFs).
The Bitcoin price on CoinMarketCap rose 2.73% from the same time the previous day to $69,832.
The rise was influenced by the inflow of funds into Bitcoin ETFs. According to Hwasaido Investors, the US Bitcoin spot ETF has been in a "net" position since the 11th.
On October 22nd, there was only one day of "net outflow," and on the rest of the trading days, there was more inflow than outflow.
In particular, a large amount of funds flowed in on the 25th of last month (local time). On that day, the US Bitcoin spot ETF
The net inflow was worth $202 million. The increase was also likely influenced by the growing likelihood of Republican candidate Donald Trump winning the presidential election.
Last week, decentralized prediction platform Polymarkets saw Trump's chances of winning rise to 66%.
The possibility of manipulation was also raised. Also, on the 25th of last month, a user "bet" a large amount of money on candidate Trump, causing an incident in which Trump's chances of winning temporarily rose to 99%.
He also came.