Bitcoin reached new heights this week, hitting an all-time high after Donald Trump's election victory, with the price peaking at $76,191 before settling around $74,900.
Impact of Trump's Victory on Crypto Market
Trump’s re-election is seen as a major catalyst for the latest surge in crypto prices. Sylvia Jablonski, CEO of Defiance ETFs, explained how the Trump administration’s stance on crypto supports the growth of digital assets.
Record Trading Volume for IBIT
BlackRock’s iShares Bitcoin Trust (IBIT) experienced a monumental trading day with volumes reaching over $4.1 billion, surpassing notable stocks such as Berkshire Hathaway and Netflix.
Potential for New Crypto ETF Growth
Trump’s victory could drive a new wave of crypto ETFs, with 2024 seeing a surge in regulatory filings for altcoin-inclusive ETFs like Solana, XRP, and Litecoin.
Current developments show significant institutional interest in cryptocurrencies, and Trump's victory could catalyze further growth in the digital asset market.
