Republican candidate Donald Trump has been announced the winner of the 2024 U.S Presidential elections and this news has brought about a spike in crypto prices, more specifically Bitcoin.
Following the announcement of Trump’s victory, Bitcoin surged by over 8% in the span of a few hours, setting a new all time high record of over $76,000.
This impressive pump can be attributed to heightened investor confidence following Trump's boisterous promises during his campaign, such as replacing the Securities and Exchange Commission (SEC) Chairman Gary Gensler, and his goal of making America the world’s crypto capital.
Trump’s win has also had a notable impact on Bitcoin ETFs with BlackRock recording a whopping $1.1 billion inflow on Thursday 7th November, only two days after the election. This is a remarkable feat for the company as it hit $23B in net assets.
Other cryptos are not left out of the rally as the popular memecoin Dogecoin is on a steady rise, gaining over 30% in the past few days and 4% in the last twenty four hours. Ethereum is also performing favourably on the charts with a 7 day increase of 27% .
The global crypto community has been solidly behind Trump as he is a candidate that has shown a dedicated interest in strengthening the crypto base in the United States, through pro-crypto legislation and the sponsorship of crypto miner’s rights.
On-Chain Media articles are for educational purposes only. We strive to provide accurate and timely information. This information should not be construed as financial advice or an endorsement of any particular cryptocurrency, project, or service. The cryptocurrency market is highly volatile and unpredictable.Before making any investment decisions, you are strongly encouraged to conduct your own independent research and due diligence
Tags :
0 Comments
Show More
A focused look at the $2.8B Bitcoin and Ethereum options expiry, its effect on short-term volatility, and what it signals for Ethereum’s breakout structure and Bitcoin’s push toward $100K.
A deep dive into recent XRP burn data showing 2.5 million tokens permanently removed over 800 days, why that matters, and why some analysts believe $100 per XRP is inevitable with real numbers.
Ethereum shows renewed bullish momentum above key levels near $3,330.
On-Chain Media is an independent, reader-funded crypto media platform. Kindly consider supporting us with a donation.
bc1qp0a8vw82cs508agere759ant6xqhcfgcjpyghk
0x18d7C63AAD2679CFb0cfE1d104B7f6Ed00A3A050
CBaXXVX7bdAouqg3PciE4HjUXAhsrnFBHQ2dLcNz5hrM
Contains the last 12 releases
