Bitcoin All-Time High is getting closer and closer

Bitcoin remains at high levels coupled with bullish news, keeping the all-time high within reach.

Over the past 24 hours, Bitcoin has shown little movement. Around 10 p.m. there was a brief rise to nearly $73,000 (about 68,800 euros), but the leading cryptocurrency then fell again and at the time of writing stands at $72,250 (68,100 euros). The current all-time high is at $73,750 (69,500 euros), meaning BTC is only two percent away from a new record.

Part of the reason for the continued high is bullish news about MicroStrategy. The Bitcoin company wants to raise some $42 billion (39.6 billion euros) for BTC purchases. Also, yesterday, on Oct. 30, there were large inflows into Bitcoin Spot ETFs from BlackRock, Fidelity and others. Investors yesterday staked about $896 million (€845 million) in the BTC investment products, equivalent to 12,320 BTC.

In total, inflows since the start of trading have reached $24.24 billion (€22.8 billion), representing more than a million BTC. Currently are the long and short positions reasonably balanced, with a slight majority for betting on falling prices (short) in a ratio of 48 to 52 percent.

According to Bitwise-CIO Matt Hougan, BTC will soon break the all-time high. In an interview with Yahoo Finance, the crypto expert said, "This is the best time to invest in Bitcoin. I think Bitcoin will rise above $100,000 (94,300 euros)." According to Hougan, it doesn't matter who wins the upcoming U.S. election; Bitcoin doesn't need Washington.

From data from Polymarket - a crypto betting platform which is currently facing allegations of manipulation - shows that Trump is 62 percent ahead of Harris, who is at 37 percent.