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Bitcoin’s ‘Uptober’ momentum fueled by pro-crypto US candidates and fading global tensions

  • 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.

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