Bitcoin surged to a high of $66,000 in the past 24 hours, breaking out of weeks of stagnation as the broader crypto market showed signs of recovery.
The growing perception that both leading US presidential candidates, Vice President Kamala Harris and former President Donald Trump, are pro-crypto is driving the renewed momentum.
Other potential drivers behind Bitcoin's recent performance include shifting market sentiment, disappointment with China's economic stimulus, the delayed repayments to creditors of the Mt. Gox exchange, and diminishing geopolitical risks.
Experts believe that Bitcoin's growth is driven more by liquidity and transparency than by regulation or political leadership.