Bitcoin Traders Look at $70,000 Mark Again as Money Flows Into U.S. ETFs

Bitcoin traders are once again aiming for the $70,000 mark reached in June, after the cryptocurrency fell across the board at one point late on Friday, while money steadily flowed into U.S. exchange-traded funds (ETFs).A report from CoinShares showed inflows into the digital asset reached $910 million last week, pushing year-to-date inflows to $27 billion, almost 2021 three times the record high of 2021. Ether, the second-largest digital asset, saw $35 million in outflows last week, the largest outflow of any asset, according to the report. 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.