Bitcoin saw its highest level since August 26, at $64,745 in these night hours. It was especially noteworthy that the rise came after Kamala Harris pledged support for the technology sector, including digital assets and artificial intelligence.

While it was seen that the US presidential candidate pronounced the word ‘digital assets’ for the first time, this was perceived as a positive step by the crypto world. The names close to the Democratic wing of crypto have long been in contact with the Harris campaign for such issues. Many business people stated that only Donald Trump seemed to be a crypto supporter, but they could change this situation.

Does the Fed decision show its effect?

One of the strong reasons behind the rise may be the Fed’s big cut decision last week. As it will be remembered, the institution started the monetary easing period with a cut as high as 50 basis points, despite analysts’ views that “25 basis points cut is enough”. Many experts and economists linked the Fed’s move to the US presidential elections and claimed that there was a political motivation/pressure behind the decision.

Gold is also rising

On the other hand, like Bitcoin, which is seen as ‘digital gold’, ‘real’ gold has also been on the rise since last week. The yellow metal, which broke records in a row and managed to exceed $2600, renewed its record with $2631 today.

Approval for IBIT options

One of the important developments that could have an impact on the price was experienced over the weekend. The US Securities and Exchange Commission (SEC) approved option transactions for the IBIT fund, BlackRock’s spot Bitcoin ETF. This approval is expected to attract more investors to Bitcoin with the fund. Especially institutional investors are expected to increase liquidity and other ETF issuers are expected to receive the same approval…

At the time of writing, Bitcoin is trading around $63,800.