Bitcoin Surges to $76,000 After Trump's Election Win, Sparking Hopes of Extended Crypto Bull Run

2024-11-07 45

Bitcoin surged to a record high of $76,000 Wednesday after Donald Trump's U.S. election win, fueling optimism for a prolonged crypto rally. The leading cryptocurrency gained more than 6% in 24 hours, with 30-day gains surpassing 21%. QCP Capital noted BTC's history of post-election rallies as the dollar strengthened and Treasury yields rose. Traders are now focused on a Federal Reserve rate cut, expected at 0.25%, which could further support Bitcoin by weakening the dollar.