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Bitcoin Hits €68K Record High, Eyes Gold as Next Milestone

Bitcoin (BTC) set a new all-time high in euros, reaching €68,000, as it outperformed several global fiat currencies. Now, BTC bulls are targeting parity with gold.

• Main Points:

  • Euro record high: BTC hits €67,987 on Oct. 29, setting a new euro high.

  • Global currency strength: Bitcoin reaches highs against AUD, CAD, and TRY.

  • European reaction: ECB criticized for Bitcoin-hostile stance amid new highs.

  • Gold target: Bitcoin remains below gold’s recent $2,789 record in USD.

• Detailed Insights:

  • Euro record high: BTC’s breakout in Europe signals potential dollar parity soon.

  • Global currency strength: Other currencies, including AUD and TRY, also reached BTC lows.

  • European reaction: ECB’s recent anti-Bitcoin paper faced criticism from crypto advocates.

  • Gold target: BTC/USD must surpass March 2024 high to challenge gold’s record.

  • Market sentiment: BTC gains signal growing appeal amid fiat currency challenges.

Related: Bitcoin Bulls Eye Six-Figure Target as Price Nears $72K

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Trump Victory Could Boost Crypto, but Traders Urged to Exercise Caution

Crypto analysts predict a Trump victory might spark a short-term rally, but they urge caution as volatility could surge around election day.

• Main Points:

  • Potential market rally: Analysts expect a “dopamine hit” for crypto if Trump wins.

  • High volatility forecasted: Traders should be prepared for sharp price shifts post-election.

  • Analyst caution: Some experts recommend cautious, diversified strategies over high-risk buys.

  • BTC price near peak: Bitcoin trades 2% below its all-time high as election nears.

• Detailed Insights:

  • Potential market rally: A Trump win could bring a crypto boost, driven by positive market sentiment.

  • High volatility forecasted: Analysts warn of significant fluctuations around election day.

  • Analyst caution: Nick Forster suggests hedging strategies to manage risk during this period.

  • BTC price near peak: Bitcoin’s 7.6% rise to $72,432 reflects strong momentum.

  • Long-term growth: Experts agree on Bitcoin’s potential to hit six figures regardless of election outcome.

Related: BlackRock Expands Bitcoin Holdings and Invests in MicroStrategy

BlackRock Bitcoin ETF Sees Record Trading Amid “FOMO Frenzy”

BlackRock's spot Bitcoin ETF (IBIT) saw record-breaking trading volume on Oct. 29, with analysts attributing it to a “FOMO” surge as Bitcoin nears its all-time high.

• Main Points:

  • Record trading volume: IBIT hit $3.35 billion in trading volume, its highest in six months.

  • Market-wide FOMO: Total spot Bitcoin ETF inflows reached $827 million across U.S. markets.

  • Bitcoin’s near-peak price: BTC trades at $72,390, close to its all-time high.

  • Sustained inflows: IBIT has seen steady inflows for 12 consecutive days, totaling $3.2 billion.

• Detailed Insights:

  • Record trading volume: BlackRock’s IBIT saw $3.35 billion in trades, leading the day’s volume.

  • Market-wide FOMO: Bitcoin ETFs across the U.S. collectively hit $4.64 billion in trading volume.

  • Bitcoin’s near-peak price: BTC reached $72,390, just 2% shy of an all-time high.

  • Sustained inflows: IBIT has maintained high daily inflows since Oct. 10, reflecting steady investor interest.

  • Historic price action: Bitcoin completed its “second highest daily candle in history” on Oct. 29.

Related: Binance Whales Propel Bitcoin Past $71K, Nearing All-Time High

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results