Bitcoin nearly reached $70,000 on Monday, boosted by a $2.4 billion inflow into exchange-traded funds (ETFs) and growing optimism about potential favorable U.S. crypto regulations.

The surge in ETF investments occurred between Oct. 12-18, with traders speculating that the outcome of the Nov. 5 U.S. presidential election could result in a more crypto-friendly stance, particularly if Donald Trump, who is seen as pro-crypto, wins.

The Bitcoin market has also been influenced by global economic factors, with some volatility expected around the election. Although Bitcoin reached a record high of $73,798 in March, it has not surpassed $70,000 since June. Show Less