Opinion: Overnight stock market gains provide support for Bitcoin, and “Trump’s victory expectations” continue to influence the market

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ODAILY
3 days ago
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Odaily Planet Daily Report: In a report, IG Australia Pty market analyst Tony Sycamore wrote that the overnight stock market rally provided support for Bitcoin, and continued to "view Trump's victory as expected" in its price performance. He added that Bitcoin needs to maintain above $70,000 to boost market confidence in Bitcoin breaking the $73,798 record set in March. Regardless of who wins the election, options traders have increased bets on Bitcoin reaching an $80,000 peak by the end of November, with implied volatility rising around the November 5th election day. So far this month, the US spot Bitcoin ETF has attracted about $3.1 billion in net inflows. (Bloomberg)

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