BTC Hits Its All-Time High, Other Cryptos Rally
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Former US President Donald Trump is now president-elect of the US, sparking optimism in the markets for a potentially favourable approach toward cryptocurrency regulation.
In response, Dogecoin saw a jump of over 21%, and other major digital assets, including Bitcoin and Shiba Inu, experienced upward momentum.
Bitcoin soared to a new high of $75,000 (up 9.08% on the day), driven by speculation about possible regulatory changes after Trump’s reelection.
Altcoins like Ethereum and Solana also gained as investors hoped for policies encouraging blockchain development.
This surge in the crypto market highlights a renewed appetite for risk as traders position themselves for potential regulatory shifts.
The recent price surge has surpassed a resistance level of $72,723.67. This level now acts as a support zone, potentially offering a buying opportunity for investors looking to capitalise on the ongoing momentum up to $78,392.72 resistance.
Data: eToro, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener
