Bitcoin prices surged over 3.5% on the day, crossing the US$70,000 mark for the first time in nearly 2 months.
Other major cryptocurrencies also rallied, with Ethereum, Solana and Litecoin gaining 4-8%.
Several factors are driving the Bitcoin rally, including growing expectations of Federal Reserve rate cuts, a lead for former President Trump in presidential polls, and a widening gap between Bitcoin call and put option prices. Trump also pledged to establish a national strategic Bitcoin reserve if elected.
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