web3.0Bitcoin (BTC) Skyrockets as Trump's Election Win Fuels Market Rally: The 'Trump Trade” EffectBitcoin (BTC) Skyrockets as Trump's Election Win Fuels Market Rally: The 'Trump Trade” Effect
Bitcoin skyrocketed following Donald Trump's victory in the 2024 United States presidential elections, where he secured a majority with 295 electoral votes.
Bitcoin (BTC) price reached a new all-time high in the last 24 hours, surpassing the $76,000 level for the first time and is currently trading at $74,929.
According to CoinMarketCap data, Bitcoin transaction volume increased by 0.20 in the last 24 hours and reached 96.97 billion dollars. As of this writing, BTC price is trading at $74,929.44, down 2.05% from its peak. Bitcoin price increased by 3.64% in the last week and .41 in the last 30 days.
Trump's Election Victory Triggers Bitcoin: "Trump Trade" Effect
Bitcoin skyrocketed after Donald Trump won a majority of 295 delegate votes in the 2024 United States presidential election. Some analysts describe this rise as the "Trump Trade" driven by expectations of business-friendly policies and fewer regulatory hurdles.
Also Read: Altcoin Market Explosion Expected as Bitcoin Hits $75,000 Record
Billionaire Trump, known for his non-fungible token (NFT) initiatives, promised to introduce fair regulations for the digital asset industry and dismiss Securities and Exchange Commission (SEC) Chairman Gary Gensler on his first day in office.
Trump's victory not only marks his return to the presidency, but also shows a shift in market expectations, with investors expecting fewer hurdles to Bitcoin adoption. Bitcoin's alignment with Trump's broader economic policies ensures that under his administration the leading cryptocurrency will integrate into traditional financial systems.
Bitcoin Aims for Higher Price Levels
TradingView data shows that November 6 was very bullish for Bitcoin, with prices increasing by approximately 9%. Bitcoin gained strong upward momentum, surpassing $76,000 for the first time. CNBC analysts predict that BTC could reach $100,000 before the inauguration if Trump's crypto promises are fulfilled.
The Relative Strength Index (RSI) for Bitcoin is currently showing 67.10, suggesting significant buying pressure. However, the uptrend suggests that BTC may make a small pullback before reaching higher price levels.
The information contained in this article is for informational and educational purposes only. It does not constitute financial advice or any recommendation. Coin Edition is not responsible for any losses arising from the use of content, products or services of the mentioned companies. Readers should do their due diligence before taking any action regarding the company.
The above is the detailed content of Bitcoin (BTC) Skyrockets as Trump's Election Win Fuels Market Rally: The 'Trump Trade” Effect. For more information, please follow other related articles on the PHP Chinese website!
Tokenized Treasuries Near $6B Milestone, Led by BlackRockApr 19, 2025 am 11:44 AMThe value of blockchain-based U.S. Treasuries is closing in on a new milestone, with total holdings approaching $6 billion.
title: Canary Capital Is Launching a TRX-Tracking ETFApr 19, 2025 am 11:42 AMCanary Capital is looking to launch an exchange-traded fund (ETF) tracking the price of Tron's native token, TRX, according to a filing.
Solana Stablecoin Market Cap Hits Record $12.73 Billion as Sui Supply Reaches $800M with $60M InflowsApr 19, 2025 am 11:40 AMThe stablecoin market has surpassed a total capitalization of $233 billion. Within this sector, Solana's stablecoins have reached a new all-time high market capitalization of $12.73 billion
Canary Capital Files for Staking TRX ETF, Targeting Launch Before Spot Bitcoin ETFsApr 19, 2025 am 11:38 AMCanary Capital is looking to get the U.S. Securities and Exchange Commission's sign-off for an exchange-traded fund that would track the Tron token TRX and has a staking component.
MoonPay CEO Ivan Soto-Wright calls on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoinsApr 19, 2025 am 11:36 AMIn an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework.
Michael Saylor Dissects the Philosophy and Technological Potential of Bitcoin in '21 Truths of Bitcoin'Apr 19, 2025 am 11:34 AMSaylor's ideas centre on the fixed 21 million coin supply of Bitcoin. He presents this shortage as a revolutionary economic idea rather than only a technical one.
Official Trump (TRUMP) memecoin unlocked 40 million tokens, worth around $300 millionApr 19, 2025 am 11:32 AMThe TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.
TRUMP (TRUMP) memecoin unlocks 40 million tokens, worth around $300 millionApr 19, 2025 am 11:30 AMThe TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!
Hot Article
Hot Tools
SublimeText3 Chinese version
Chinese version, very easy to use
DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software
Dreamweaver Mac version
Visual web development tools
EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function
Atom editor mac version download
The most popular open source editor
