Bitcoin Financial News

U.S. stocks stormed to records as investors bet on what Donald Trump’s return to the White House will mean for the economy and the world

The U.S. stock market, Elon Musk’s Tesla, banks and bitcoin are storming higher as investors bet on what Donald Trump’s return to the White House will mean for the economy and world

The cryptocurrency industry expects better days ahead.

Donald Trump quickly put his stamp on financial markets as his victory in the United States presidential election propelled “Trump Trade” plays across assets.

The price of bitcoin hit a new high Wednesday as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies.

Bitcoin surged to a new all-time high on Wednesday, crossing the $75,000 mark as Donald Trump has sealed the race to White House after breaching the 270-majority mark of electoral votes. The leading cryptocurrency surpassed its previous high of $73,750, reflecting a strong positive response from the market. Donald Trump clinched the White House after securing Wisconsin’s swing state and reaching a majority of 277 electoral votes, setting him up as the USA’s 47th President. The Republican also captured Pennsylvania, along with North Carolina and Georgia, and leads in Michigan.

Bitcoin (BTCUSD) surged to a record high, briefly topping $75,000, as Donald Trump was set to recapture the U.S. presidency. 

Donald Trump securing a victory, sparking renewed interest in the crypto market. Bitcoin’s price rally, which saw it gain nearly 10% in a short span, has reignited discussions about its potential to reach even greater heights. Will historical trends of post-election surges hold true, potentially pushing Bitcoin to over $100k by late 2025? And with Bitcoin ETFs driving institutional interest, could we be witnessing a renewed confidence in crypto’s growth trajectory post-election under a pro-crypto administration?

The price of bitcoin has hit a new high as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies

Major tokens, including Bitcoin, Ethereum, BNB, Solana, and Toncoin, recorded declines of up to 6%, while others such as XRP, Dogecoin, Shiba Inu, Polkadot, and NEAR Protocol saw gains of up to 10%.

Bitcoin has once again captured the global spotlight by soaring to an all-time high, surpassing $68,000 and reaching a market capitalization that exceeds $1.3 trillion—equivalent to some of the world’s most powerful tech giants like Meta and Tesla. This surge has reignited debates among investors and analysts: Is this the beginning of sustained long-term growth or just another short-term rally set to correct itself? To answer this, it’s essential to explore the driving factors behind Bitcoin’s rise, the impact of political changes, and potential challenges that could shape its future.

Bitcoin prices, currently hovering around $68,000. The volatility in the cryptocurrency market could see Bitcoin soar or plummet, depending on whether former President Donald Trump or Vice President Kamala Harris emerges victorious. Gautam Chhugani, leading the research at Bernstein, emphasized that the election is poised to have a short-term impact on cryptocurrency sentiment.

cryptocurrency market showed mixed trends on Monday as investors prepared for key events—the US presidential election and an anticipated Federal Reserve rate cut, both of which could significantly impact crypto markets. Major tokens like Bitcoin, Ethereum, Dogecoin, Tron, and Toncoin saw gains, while others such as BNB, Cardano, Shiba Inu, Chainlink, Polkadot, Litecoin, Uniswap, and NEAR Protocol experienced losses of up to 3%.

Bitcoin approaches its all-time high, excitement is building around a potential “altcoin season” across the crypto market. In a recent ETMarkets live stream, Anush Jafer, Content Lead at Mudrex Research, shared insights into how Bitcoin’s price movement could shape the broader cryptocurrency landscape and spark opportunities for altcoins. Jafer highlighted Bitcoin’s resilience in its climb toward previous highs, a journey that has reignited discussions about its role as a market driver. “When Bitcoin reaches these levels, the impact on the entire cryptocurrency market is significant,” Jafer noted, suggesting that Bitcoin’s strength often triggers a market-wide reaction. Historically, Bitcoin rallies have been followed by altcoin surges, known as “altcoin season,” where alternative cryptocurrencies gain traction and attract new capital.

Mumbai: As Bitcoin surged toward $70,000 and Wall Street went long on Donald Trump, Indian crypto exchanges tapped offshore bourses for crypto futures trade which is catching on, while many HNIs reportedly made misleading declarations to banks to show their foreign crypto holdings as ‘security’ investments. Local bourses as well as these HNIs believe their trades are kosher — drawing comfort from the fact that the foreign exchanges they are dealing with are registered with Financial Intelligence Unit (FIU). However, they may be unwittingly walking through a minefield of rules on the Foreign Exchange Management Act.

Satoshi Nakamoto released the Bitcoin whitepaper with the aim of creating a system that replaces the need for central authorities like banks and financial institutions to facilitate transactions. The nine-page document called “Bitcoin: A Peer-to-Peer Electronic Cash System” contained a detailed description of how payments can be made directly to one another based on cryptographic proof and not relying on any third-party intermediaries. Since then, Bitcoin grew from $0.05816 in 2010 to $72,500 today making it one of the largest asset classes in the world. As we celebrate the 16th anniversary of the Bitcoin Whitepaper, let's take a look at how Bitcoin evolved over the years and shaped the crypto market to what it is today.

Bitcoin surged to $73,577 in early Asian trade on Wednesday, just $173 shy of its all-time high of $73,750, as investors closely monitored the upcoming US presidential election. However, by 10:40 AM, the leading cryptocurrency was trading 2.2% higher around $72,333.

Bitcoin's rally toward another all-time high and renewed ETF inflows, a bleaker picture of crypto is emerging, one where waning interest in once-hot assets prompts some companies to slash jobs. On Wednesday, crypto exchange Kraken announced job cuts a person familiar with the matter said amounts to 15% of workers, while rival Coinbase Inc. reported earnings that missed estimates. Software developer Consensys is among other digital-asset firms that recently started trimming jobs.

Hedge funds and other investors are searching for trades that profit from a win by Republican presidential candidate Donald Trump, but also offer limited downside in the event of a victory by Vice President Kamala Harris. As the nearly deadlocked race nears, some are looking for so-called "asymmetric trades" involving bitcoin or the yuan, assets which could yield big profits if Trump wins but would not cause big losses if the wagers are wrong. «Trading the election is difficult given how tight it is,» said Edoardo Rulli, head of UBS Hedge Fund Solutions.

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US elections, Bitcoin prices have climbed over the $71,000 mark for the first time since June. The digital currency increased by more than 2%, reaching $71,310 while other cryptocurrencies, such as Ether and Dogecoin, also saw gains of about 4%. Bitcoin is often linked to Donald Trump’s campaign because he has been vocal about supporting digital assets and even vowed to make the US the crypto capital of the planet while Kamala Harris has called for a regulatory framework for digital assets.