Bitcoin’s $76K Surge Highlights the “Trump Trade” Effect

• Bitcoin has hit a new all-time high, breaking $76,000 for the first time.
• Crypto-friendly Donald Trump won the 2024 presidential elections.
• CNBC expects BTC to touch $100K before the presidential inauguration.

Bitcoin (BTC), valued at $1.4 trillion, has reached a new all-time high in the last 24 hours, breaking past the $76,000 level for the first time. The new record for the leading cryptocurrency is $76,460.15, achieved after rebounding from a daily low of $72,733.32.

Data from CoinMarketCap shows Bitcoin trading volume increased by 30.20% to $96.97 billion in the past 24 hours. As of this writing, BTC is priced at $74,929.44, a 2.05% drop from its peak. Over the past week, Bitcoin has risen 3.64%, with a remarkable 19.41% increase in the last 30 days.

Trump’s Election Win Fuels Bitcoin 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. This surge reflects what some analysts are calling the “Trump Trade”—a market response driven by expectations of pro-business policies and reduced regulatory hurdles.

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