Catenaa, Wednesday, November 13, 2024- Bitcoin surged above $90,000 Tuesday, marking a new all-time high as market optimism soared following the US presidential election of Donald Trump.
The cryptocurrency climbed another 1.8% over the past 24 hours, continuing a 30% increase over the past week.
Analysts attribute this rapid price increase to investor confidence in Trump’s perceived pro-crypto stance, fueling hopes for regulatory reforms favorable to digital assets.
The rally was also evident in institutional investments. BlackRock’s spot Bitcoin ETF led the US market with $4.5 billion in daily trading volume on Monday, a record since its inception.
The broader cryptocurrency market is experiencing a similar uptick.
The GMCI 30 index, which tracks the top 30 cryptocurrencies by market cap, rose 1.1% to 161.54.
