Bitcoin Surges Past $80,000 for First Time Amid Post-Election Optimism
Bitcoin, the world’s largest cryptocurrency, achieved a historic milestone by surpassing the $80,000 mark on Sunday, November 10.
The new all-time high comes shortly after Republican candidate Donald Trump’s victory in the U.S. presidential election, spurring optimism across the cryptocurrency market.
Just days after the election, Bitcoin climbed past $75,000, fueled by renewed interest in digital assets linked to Trump’s pro-crypto stance. At 7:31 p.m. (GMT+1), Bitcoin reached a record-breaking $80,945.35, reflecting a 5.24% gain within 24 hours, according to CoinMarketCap.
The surge wasn’t limited to Bitcoin. Ethereum, the second-largest cryptocurrency by market cap, also rose, reaching $3,220 with a 4.64% increase. The broader cryptocurrency market set a new benchmark as well, with a total market capitalization of $2.65 trillion, a 2.20% rise generating $157.07 billion in 24-hour trading volume.
Trump’s campaign has embraced cryptocurrency by allowing contributions via Bitcoin, Ether, and Dogecoin. In October, Trump promoted World Liberty Financial, a crypto initiative from his business partners, aiming to raise $300 million through token sales, per a report by the Financial Times.
This record-setting rally suggests that Trump’s support could drive further interest and growth in the crypto market, with Bitcoin’s performance potentially signaling wider adoption on the horizon.
