Bitcoin is closing in on its March all-time high as the crypto market gets fired up about next week’s election.

Traders are piling into BTC as Donald Trump, considered the more pro-crypto of the two candidates, looks to be leading in the polls.

Meanwhile, new meme coin Crypto All-Stars is gaining traction at just the right time – with its ICO raising over $2.8 million.

Bitcoin Eyes New All-Time High as Bulls Take Control

Bitcoin’s (BTC) march higher continues, with the OG crypto now trading at $71,100 after shaking off last week’s dip.

The coin has bounced back strongly, up over 8% from Friday’s low and touching its highest level since early June.

BTC’s momentum is hard to ignore.

It’s now eyeing its fourth straight day in the green, and the coin’s technicals look primed for more upside.

On the 4-hour chart, BTC broke out of a bull flag pattern, suggesting there could be more room to run.

The coin’s proximity to March’s peak is what’s really getting traders excited.

At the current price, Bitcoin is just 3% shy of its all-time high of $73,750.

The derivatives market is also telling an interesting story, with open interest hitting unprecedented levels above $23 billion.

This surge in trading activity points to heavy institutional involvement, which could add extra fuel to Bitcoin’s rally.

Trump’s Pro-Crypto Vision Prompts Market Rally Ahead of Election

Bitcoin’s surge comes as investors turn their attention to next week’s presidential showdown between Trump and Harris.

And there’s a clear favorite in the crypto market.

Trump has been making headlines with bold promises to transform America into what he calls “the crypto capital of the planet” and a “Bitcoin superpower,” prompting excitement from investors.

Popular influencers are taking note, too.