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Record BTC ETF Outflows Ahead of US Elections
Bitcoin prices are trading higher today into the US elections as the market stabilises on the back of four days of heavy selling. The retreat in BTC has been linked to profit taking on the October rally, uncertainty ahead of the US elections with the risk of major volatility. Over October, BTC pushed higher as traders priced in a higher risk of Trump winning the elections. A return to the so called ‘Trump trade’ dynamic saw USD rallying as EMFX and commodities fell. Crypto swap swept up in the rally on the perspective that Trump is the more pro-crypto candidate, with BTC expected to benefit firmly if he wins ... (full story)
