Investors are increasingly optimistic about Bitcoin as over $2 billion flowed into ETFs last week, coinciding with Bitcoin nearing $70,000. Data from CoinShares indicates this was the highest weekly inflow since July, with $2.13 billion coming from American investors. The rising sentiments are linked to expectations of a Republican victory in the upcoming U.S. elections, as Republican candidates, particularly Donald Trump, are perceived as more supportive of digital assets than their Democratic counterparts. Trump now leads in crypto-related betting platforms, and although traditional polls show Kamala Harris is still favored, the gap has narrowed. Recent Bitcoin ETFs have provided American investors with easier access to the cryptocurrency, amassing over $20 billion in inflows in the past nine months. Notably, BlackRock's iShares Bitcoin Trust received more than $1 billion last week. Following the Federal Reserve's recent decision to adjust interest rates, investors are again showing interest in risk-heavy assets like Bitcoin, contributing to a bullish attitude in the crypto market.

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