Cryptocurrency Price Movements Today: Bitcoin Pares Gains After Touching $68,000

Bitcoin's (BTC) caller climb continued Monday, cooling somewhat aft prices touched $68,000 complete nan play pursuing nan news that President Joe Biden had dropped out of nan 2024 statesmanlike campaign.

The starring cryptocurrency precocious traded a spot complete $67,000.

After $383.6 cardinal of inflows connected Friday, U.S. spot bitcoin exchange-traded costs (ETFs) person reached a caller all-time precocious cumulative travel of conscionable complete $17 billion, according to Farside Investors.

A number of spot ether ETFs are expected to person last support soon, which would clear their measurement to beryllium launched. Ether's (ETH) price, precocious supra $3,400, was precocious down astir 2% complete nan past 24 hours, according to CoinDesk.

Potential U.S. Crypto Regulatory Changes successful Focus

The cognition that nan Republican summons of erstwhile President Donald Trump and U.S. Senator J.D. Vance, seen arsenic much crypto-friendly than Biden, has possibly lately supported crypto markets.

However, according analysts astatine Bernstein said nan imaginable affirmative benefits of a Trump triumph is presently not decently value into nan crypto market, The Block reported. Trump is scheduled to springiness a reside astatine nan Bitcoin 2024 convention successful Nashville connected Saturday.

Meanwhile, JPMorgan analysts wrote that a a imaginable bitcoin value emergence could extremity up being temporary, arsenic bitcoin's value remains elevated comparative to its costs of accumulation and comparative valuation compared to gold, CoinDesk reported.

Solana (SOL) has besides appeared to use from optimism astir a much crypto-friendly regulatory situation lately. Two Solana ETF applications were sent to nan U.S. Securities and Exchange Commission past period by VanEck and 21Shares, and it has gained much than 20% from nan lows of past week.