Bitcoin has surged past the $70,000 mark for the first time in seven months, reaching this milestone during Tuesday's trading. The surge is attributed to increased investments in dedicated exchange-traded funds (ETFs) and growing speculation surrounding the upcoming U.S. election.
Following its peak, Bitcoin experienced a brief dip but ultimately settled just below the significant threshold at $69,812. Analysts suggest that the optimism surrounding regulatory developments and the potential impact of the election on market sentiment have contributed to this rally.