Bitcoin price today: hits record high above $81k on Trump cheer; DOGE at 3-yr peak
), extending a rally from last week as sentiment towards cryptocurrencies remained lifted by Donald Trump’s victory in the 2024 presidential election.Improved appetite for crypto sparked a sharp increase in capital inflows into crypto investment vehicles over the past week, factoring into Bitcoin’s strong gains.Gains in Bitcoin and other cryptos were driven chiefly by bets that Trump will enact more crypto-friendly policies in the next four years.
This notion was the biggest driver of recent crypto gains, as traders bet that the Securities and Exchange Commission will have to soften its stance against the industry. Markets also bet that the industry will gain more legitimacy as an investment vehicle.Optimism over a Trump presidency saw crypto exchange-traded funds clock steep gains in the past few sessions.) commanding a bulk of these inflows. The IBIT also surpassed Blackrock’s gold ETF in total assets, reaching $34.
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