Krutika Adani
Bitcoin has finally managed to cross $68k and at press time was at $68.1k. The move came after the crypto saw a strong demand emerging from institutional as well as retail markets.
The strong demand was expected after the halving event but then the markets lacked liquidity. Now with increased liquidity, Bitcoin’s rally has finally emerged.
ETFs saw $457 million in inflows on 16 October which was one of the highest since their launch.
The MVRV ratio shows that the markets have increased their appetite for Bitcoins and this could help Bitcoin gain a new ATH soon.
The possibility of a crypto-friendly government after the US elections is also one of the main reasons driving growth in Bitcoin.