• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Sets New Record as Price Soars to $75,000 Amidst US Elections

user avatar

by Giorgi Kostiuk

a year ago

Bitcoin has reached a new milestone of $75,000, driven by Trump's lead in the US presidential elections and its impact on the markets.

US Election Sparks Bitcoin's Surge

Bitcoin's rise began on November 5 as the US elections introduced volatility into the market. As polling stations closed, Bitcoin rose over 3% to an intra-day high of $70,577. By early morning on November 6, it surged to $75,000.85 on Coinbase.

The 'Trump Trade' and Its Impact on Crypto

As Trump gained an advantage in the election, markets responded positively to his pro-crypto stance, with Bitcoin rising more than 9%. Trump's promises to replace SEC Chair Gary Gensler and establish a national Bitcoin reserve fueled investor enthusiasm.

Bitcoin’s Volatility: A Continuing Theme

Despite reaching new highs, the cryptocurrency market remains volatile. On November 4, Bitcoin ETFs saw rare outflows of $541.1 million, although BlackRock’s ETF received $38.3 million. Experts warn that the rise may not last without adjustments in investor positioning.

Bitcoin's all-time high has influenced various cryptocurrencies, including Ethereum and Dogecoin, reflecting shifts in market sentiment.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Retail Investors Face Billions in Losses from TRUMP and MELANIA Memecoins

chest

Retail investors have incurred over $4 billion in losses on the official TRUMP and MELANIA memecoins, which have plummeted significantly since their launch.

user avatarElias Mukuru

Bitcoin Spot ETFs Face Largest Drawdown in History

chest

Bitcoin spot ETFs have experienced the largest drawdown in history, with a decline of 100,300 BTC following the October all-time high, reflecting a risk-off environment and institutional derisking.

user avatarDiego Alvarez

t54ai Introduces x402 Facilitator for Seamless AI Payments on XRP Ledger

chest

t54ai has launched an innovative x402 facilitator on the XRP Ledger, enabling AI agents to pay for API calls and digital services using XRP or RLUSD.

user avatarKenji Takahashi

Bitcoin Lightning Network Sees Surge in Monthly Transactions

chest

In November 2023, the Bitcoin Lightning Network saw a surge with over 11 billion transactions processed, indicating increased adoption by larger players.

user avatarMaria Fernandez

Capitulation Risk Grows for Ethereum Whales Amid Unrealized Losses

chest

Capitulation risk grows for Ethereum whales amid unrealized losses.

user avatarGustavo Mendoza

Exchange Inflows and Liquidity Dynamics Impact XRP Market

chest

A recent CryptoQuant report highlights the impact of exchange inflows and liquidity dynamics on XRP's market behavior, indicating that spikes in inflows may precede volatility expansion.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.