Bitcoin reached a new high in the early hours of Wednesday.
Donald Trump has won the U.S. presidential election.
Crypto users consider Trump’s win positive for the industry.
Bitcoin surged to a new peak early Wednesday, fueled by the official confirmation that former President Donald Trump has won the 2024 U.S. presidential election. The leading cryptocurrency hit an all-time high of $75,080, trading at $74,512 at the time of writing. Polls indicate that Trump won decisively, with several state results still being finalized.
Notably, the market reaction to Trump’s victory is evident not only in Bitcoin but across the entire crypto market. Other top cryptocurrencies, including Ethereum and Solana, have seen notable increases, aligning with earlier predictions of a market rally if Trump emerged as the next President. Ethereum gained over 10% in the past 24 hours, trading at $2,592, while Solana rose by 20% to reach $185 during this report.
Crypto Market Rallies on Trump Win
Market developments align with the expectation that Trump’s pro-crypto stance would positively impact the sector. Many had anticipated a market rally in the event of a Trump vict…
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