Bitcoin hit an all-time high following Trump’s historic win in the 2024 US Presidential Election. The coin crossed the 76,000-dollar mark, reflecting investors’ growing confidence in the crypto market.
Under the new administration, the crypto industry is expected to boom. According to CoinGecko, Bitcoin reached 76,040.26 dollars on November 6. The market leader broke its previous record of 73,750.07 dollars, achieved earlier this year.
BitcoinChartBot’s tweet also confirmed that the crypto went as high as 76,990 dollars.
Similarly, CoinMarketCap shows BTC’s all-time high at 76,943 dollars, achieved on November 8.
At the time of writing, Binance shows Bitcoin valued at 76,565 dollars. The chart indicates how crypto is primarily traded over the 75k-dollar mark.
As stated, the surge is a direct influence of Trump’s victory over Kamala Harris. The US President secured key swing states and exceeded 270 Electoral College votes. Given Trump’s pro-crypto stance, the crypto market took a sudden jump.
During his presidential campaign, Trump pledged to end the ongoing crusade against crypto. The current US President even proposed the development of a Bitcoin reserve.
With bolstered optimism, investors demand more crypto, boosting the overall market. Analysts also believe that the win has created a favorable environment for the crypto market.
Arthur Hayes, Co-Founder of BitMEX, has estimated that 2025 will be a better year for Bitcoin. The expert wants traders to watch the Federal Reserve’s actions and China’s economic policies. If favorable, these developments can help Bitcoin price forecast to cross the 100,000-dollar mark.
As expected, the sudden surge in BTC’s price has lifted the overall crypto market. Ethereum has crossed the 2,900-dollar mark with a 3.40% 24-hour surge.
Solana is eyeing the 200-dollar mark with a 5.90% daily surge. Cardano has entered the top 10 ranks with a 16.50% surge in the past 24 hours.
The CEO of MicroStrategy, Michael Saylor, also praised Bitcoin’s ascent to 76k dollars. According to Saylor, the hike is a testament to BTC’s resilience and recognition in the global market.
The sentiment also shows the market’s confidence in Bitcoin’s potential as a stable tool amid economic uncertainty.
