Investing.com-- Bitcoin price rose on Friday, recovering some measure of losses this week as crypto markets awaited an address by Republican presidential nominee Donald Trump at the Bitcoin Conference this weekend.
The world’s largest cryptocurrency rose 4.2% in the past 24 hours to $67,006.2 by 02:07 ET (06:07 GMT), recovering from lows of around $63,000 hit earlier in the week.
Bitcoin was caught up in a wave of selling pressure across global financial markets, which saw investors dump risk-driven assets. This risk-off trend was particularly damaging to crypto, given the sector’s highly speculative nature.
But this risk-off trend appeared to easing somewhat on Friday.
Trump set for keynote address at Bitcoin Conference
Trump is set to appear as a keynote speaker at the Bitcoin Conference in Nashville on Saturday, with his appearance coming as the former president struck a largely pro-crypto tone in recent campaigning efforts.
Crypto traders will be largely watching to see if he maintains this rhetoric during the address, and whether he will provide plans for more regulatory clarity in the U.S. crypto industry.
Speculation over a Trump presidency had afforded Bitcoin some strength last week, especially as the Republican candidate was seen leading in approvals after a failed assassination attempt.
But Democratic frontrunner Kamala Harris, who was endorsed by President Joe Biden after he dropped out of the election race, was seen narrowing the gap with Trump, polls showed this week.
A Harris presidency is expected to potentially continue the government’s regulatory crackdown on crypto, which had rattled the industry over the past two years.
Marathon Digital buys $100 mln of Bitcoin
Marathon Digital Holdings Inc (NASDAQ:MARA), one of the biggest Bitcoin miners in the U.S., said on Thursday it had purchased $100 million of Bitcoin off the open market, and that it held over 20,000 Bitcoin tokens on its balance sheet.
The miner also vowed to retain all of its mined Bitcoin, and that it will also buy more tokens from the open market.
Crypto price today: altcoins rise, more macro signals awaited
Among broader crypto markets, altcoin prices tracked a recovery in Bitcoin, with traders also awaiting key U.S. inflation data and a Federal Reserve meeting in the coming days.
World no.2 token Ether rose 2.9% to $3,263.68, seeing its first positive session since the launch of spot exchange-traded funds in U.S. markets this week.
ADA, XRP and SOL rose between 1% and 4.6%, while among meme tokens, DOGE added 4.7%.
This content was originally published on Investing.com
