Bitcoin Nears Record High of $90,000 as Market Bets on Trump’s Presidential Return
Bitcoin surged to a new all-time high of $89,640 early Tuesday, edging closer to the highly anticipated $90,000 mark as investors ramp up bets on Donald Trump’s return to the White House after his decisive victory in last week’s U.S. presidential election.
The cryptocurrency market has rallied strongly, with Bitcoin gaining approximately $8,600—an 11% increase—in the past 24 hours. By 9:30 AM, Bitcoin was trading at around $88,200, up 8% for the day, fueling optimism among investors that it may reach the landmark $100,000 level soon.
The ongoing rally has launched Bitcoin into a new phase of price discovery, which began last week, and analysts expect the bullish sentiment to carry through to the end of the year.
Broader Crypto Market Also Gains
Other cryptocurrencies followed Bitcoin’s upward momentum. Ethereum rose by 4.8%, reaching $3,337, while Solana recorded a 5.6% increase. Polygon, another popular decentralized finance (DeFi) token, gained around 3%. Notably, Dogecoin saw a 25% jump as investor interest extended to a broad array of digital assets.
Market watchers believe that the optimism surrounding Bitcoin’s potential to reach $100,000 is bolstering confidence across the entire cryptocurrency space, setting the stage for further gains in the coming days.
