Bitcoin recently dipped below the $70,000 mark after nearing an all-time high of $73,737 earlier in the week. The cryptocurrency fell by 2.8% to $70,300, correlating with a poor performance in U.S. equities, particularly the Nasdaq and S&P 500, which recorded their worst day in a month. This decline follows announcements from major tech firms like Meta and Microsoft about increased spending to address rising AI demands. Ethereum also suffered, losing 5.3%, while Dogecoin fell by 4.4%. Market sentiment is influenced by the tightening U.S. presidential race, where Kamala Harris is slightly leading Donald Trump according to a fresh poll. Trump has been seen as pro-crypto, whereas Harris has focused more on regulatory aspects of the crypto industry. Analysts suggest bullish potential for Bitcoin should Trump secure victory in the upcoming election.

Source 🔗