{"id":592636,"date":"2024-10-29T11:01:20","date_gmt":"2024-10-29T11:01:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=592636"},"modified":"2024-10-29T11:01:20","modified_gmt":"2024-10-29T11:01:20","slug":"bitcoin-blasts-past-71k-amid-surging-etf-inflows-as-bitfinex-sees-perfect-storm-powering-btc-to-new-all-time-high","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-blasts-past-71k-amid-surging-etf-inflows-as-bitfinex-sees-perfect-storm-powering-btc-to-new-all-time-high","title":{"rendered":"Bitcoin Blasts Past $71K Amid Surging ETF Inflows As Bitfinex Sees ‘Perfect Storm’ Powering BTC To New All-Time High"},"content":{"rendered":"

Bitcoin surged past $71,000 as inflows into BTC ETFs (exchange-traded funds) skyrocketed, with rising optimism surrounding Donald Trump’s potential victory in next month’s election fueling speculation that the leading cryptocurrency could reach a new all-time high.<\/p>\n

Analysts at Bitfinex called market conditions a “perfect storm” for Bitcoin, highlighting a confluence of factors that may drive prices higher.<\/p>\n

“The market is showing signs of positioning for a post-election surge, potentially propelling Bitcoin towards—and beyond—its all-time high of $73,666,” Bitfinex said in an Oct. 28 note.<\/p>\n

Among positive factors that’s buoying sentiment is rising hopes that Trump will retake the White House, and bring a more favorable regulatory environment for the crypto industry.<\/p>\n

The Bitcoin price traded up 4.2% at $71,101 as of 05:06 a.m. EST, according to CoinGecko<\/a>. <\/span><\/p>\n

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Boom! #Bitcoin<\/a> smashes through $71K! 💥 October’s $3B ETF boost is fueling this rocket, and could Wall Street’s appetite finally push $BTC<\/a> to $75K? 🤑<\/p>\n

US investors are on a BTC-buying spree, ‘Greed’ mode fully activated! 🍿 Hold on, it’s getting real! 🚀 #BTCDOMINANCE<\/a> #Crypto<\/a> pic.twitter.com\/WCREnrCyed<\/a><\/p>\n

— Cryptogeek (@the_Cryptogeek) October 29, 2024<\/a><\/p><\/blockquote>\n