Bitcoin (BTCUSD), though volatile, has outstripped the returns of the 澳洲幸运5开奖号码历史查询:S&P 500 since the beginning of September. The largest cryptocurrency has benefited from investor optimism driven by the 澳洲幸运5开奖号码历史查询:Federal Reserve's rate cuts and the U.S. presidential elections, among other factors.

Since the beginn🐓ing of September, bitcoin has gained more thaᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚn 14%, while the S&P 500 has risen roughly 3%.

Stumbled in September, Roaring in October

Just 澳洲幸运5开奖号码历史查询:like stocks, bitcoin didn't have a particularly great start to September after a worse-than-expected jobsꦛ report raised concerns about the health of the U.S. economy. Bitcoin was trading below $60,000 at that time, but signals from the Fed about a potential rat⛎e cut coming soon helped the cryptocurrency gain some momentum.

The Fed announced a jumbo 澳洲幸运5开奖号码历史查询:50-basis-point rate cut on Sept. 18 and set expectations for more to come, sending 澳洲幸运5开奖号码历史查询:bitcoin higher. Lower rates translate into lower yields for Tre🦂asurys, and that make🎉s riskier assets such as bitcoin more attractive to investors.

Still, macroeconomi𒊎c uncertainty weighs on bitcoin. Any economic data that suggests that the Fed could deviate from its rate-cutting cycle or that a recession is imminent has the pow♒er to derail this bitcoin rally.

There may also have been some sudden shift out of crypto assets into Chinese equities after the government there announced a 澳洲幸运5开奖号码历史查询:blockbuster stimulus package in late September, b𝔍ut that trade has lost some steam as the optimism around more measures began🐻 fading.

What's Driving Bitcoin Prices?

Bitcoin traded around $68,000 Wednesday after three robust days of inflows for bitcoin 澳洲幸运5开奖号码历史查询:exchange-traded funds (ETFs). According to data from Farside Investors, bitcoin ETFs have seen nearly $1.2 billion in net inflows since last Friday.

U.S. presidential elections have also played a role i💝n bitcoin price moveౠments this year.

"The macro factors contributing to crypto performance are currently rotating away from monetary policy concerns to US election outcomes," wrote researchers at Coinbase last week.

As part of a campaign agenda released Monday, Vice President and Democratic presidential nominee Kamala Harris mentioned "supporting a regulatory framework for cryptocurrency and other digital assets."

Though there w𒆙ere no other details, this was the first time the Harris campaign has showed some support for the crypto industry, while her opponent former President Donald Trump has done so on many occasions.

"She knows crypto exists, it matters, and it isn't going away. But it's not the full-hearted embrace that crypto advocates have been hoping for," Matt Hougan, Chief Investment Officer for Bitwise, wrote in a commentary Tuesday, adding that "little sliver of good news was enough to send bitcoin up 5%. Enough to push more than $500 million into bitcoin ETFs."

Another recent boost for bitcoin prices came from failed cryptocurrency exchange Mt. Gox. In a recent notification, the exchange said that it will 澳洲幸运5开奖号码历史查询:repay customers of a decade-old hack by October 2025 instead of the the end of this month. Many 🌠market watchers were concerned about bitcoin prices dropping fast with a huge amount of bitcoin hitting the markets as the repayments began in June.

"This could assuage near term concerns around supply," wrote Coinbase researchers, who also noted that prior movements in bitcoin wallets associated with Mt. Gox have led to sudden declines in bitcoin prices.