Bitcoin tops $70,000 for first time since June as US election nears

Bitcoin surged past $70,000, driven by inflows into ETFs and election-related speculation. Anticipations of a Trump victory, favorable to digital assets, and elevated implied volatility ahead of the US election have boosted Bitcoin. Traders are betting it could reach $80,000 by November’s end, supported by strong ETF inflows and a 66% rise in 2024.