After six months of price consolidation this year, a perfect storm is brewing for Bitcoin and other crypto assets.

Bitcoin rose as much as 2.9% to $68,376 on Wednesday before retreating. Bitcoin last hit $70,000 in July and reached an all-time high of nearly $74,000 in March.

U.S. Vice President Harris's pledge this week to support a regulatory framework for cryptocurrencies also reinforced optimism. Prior to this, the cryptocurrency industry has complained for years that U.S. officials have chosen a path of regulation through enforcement rather than providing transparency.

Former President Trump actively wooed cryptocurrency supporters during his campaign against Harris for the next president and has a multi-crypto agenda.

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