Investing.com– Bitcoin rose on Tuesday, reversing recent declines ahead of a tightly contested presidential election.
The world’s biggest cryptocurrency had come within spitting distance of a record high last week, before sharply pulling back as traders grew more uncertain over the upcoming election.
Losses in broader risk-driven markets, especially stocks, also showed that sentiment remained weak, with a Federal Reserve meeting later this week also coming into focus.
climbed 2.6% to $70,218.0 by 09:50 ET (14:50 GMT).
Trump and Harris set for a close contest
Initial gains in Bitcoin were driven by increased speculation that Donald Trump would beat Kamala Harris in the upcoming elections.
But recent polls and prediction markets showed Trump’s lead had largely evaporated heading into the elections, with voting set to begin later on Tuesday.
Trump had promised…
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