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Bitcoin Traders Look 70,000 Dollar Mark Again, Money Flows into US ETFs

Bitcoin traders are once again targeting the $70,000 mark reached in June, after the cryptocurrency fell across the board late Friday while money steadily flowed into U.S. exchange-traded funds (ETFs). CoinShares' report shows that inflows into digital assets reached $910 million last week, pushing year-to-date inflows to $27 billion, nearly triple the record high of 2021. Ethereum, the second-largest digital asset, saw $35 million of outflows last week, the largest outflow of any asset, the report shows. Options traders have also been upping their bets, expecting bitcoin to reach a record high of $80,000 by the end of November, regardless of who wins the U.S. election.