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Bitcoin ETF has seen inflow of funds for four consecutive weeks, and the market is waiting for Trump's speech at the heavyweight cryptos conference this week.
Bitcoin ETF has received inflow of funds for the fourth consecutive week, with a total inflow of more than $3.1 billion in four weeks. Harris has not publicly commented on her views on cryptos, but if her position is similar to Biden's, traders may continue to believe that Trump is more favorable to the industry. Media reports suggest that Trump may propose to list bitcoin as a strategic reserve asset at this week's bitcoin conference.
Crypto Investment Products Continue Positive Run After $1.35 Billion Net Inflows
CoinShares' weekly report shows that crypto investment products saw a third consecutive week of inflows.
Crypto Rests After Another Rise
The cryptocurrency market is near 6-week highs, with capitalisation near $2.44 trillion, adding 0.5% in the last 24 hours. A wait-and-see attitude and some profit-taking replaced active buying in the last three days starting Friday.
What does Biden's withdrawal mean for the global financial markets?
USA current President Joe Biden announced that he will not seek re-election, and supports Vice President Kamala Harris as the Democratic candidate. This news was released at a critical moment less than four months before the November election, which may exacerbate the instability of Wall Street.
Biden's Withdrawal Triggers Bitcoin Selloff and Rebound -- Market Talk
Bitcoin experienced a brief selloff and a rebound following President Biden's withdrawal from the U.S. presidential race, while the dollar is slightly weaker, Swissquote Bank senior analyst Ipek Ozkardeskaya says.
Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst
Bitcoin and Ethereum consolidated, while Dogecoin rose as President Joe Biden announced his withdrawal from the 2024 presidential race.
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