Bitcoin price today: hits record high near $90k, Doge surges on Trump hype

Bitcoin rose sharply on Tuesday, extending recent gains and notching new peaks as bets on friendlier regulation under a Donald Trump presidency continued to boost crypto markets.

The world’s biggest cryptocurrency has been on a tear since last week after Trump won the 2024 presidential election. Bitcoin has also largely sustained its rally despite signs that risk appetite was cooling in other asset classes, especially stocks.

Major altcoins also rose sharply on Tuesday, with meme token Dogecoin rallying nearly 42% and reaching its highest level since May 2021. 

Bitcoin traded up 9.4% at $88,313.1 by 00:36 ET (05:36 GMT), after hitting a record high of $89,436.1 earlier in the session.  Trump trade persists, Bitcoin shrugs off dollar strength 

Bitcoin rose despite pressure from a stronger dollar on broader financial markets, as speculation over Trump’s policies boosted the greenback.

Trump campaigned on promises of friendlier crypto regulation, vowing to make America the crypto capital of the world. Trump had also floated the idea of a national Bitcoin reserve. 

The prospect of friendlier U.S. regulation is expected to give Bitcoin and crypto more legitimacy as an investment destination, potentially attracting more institutional capital. Investors were seen piling into crypto exchange-traded funds over the past week, with Blackrock’s iShares Bitcoin Trust (NASDAQ:IBIT ) seeing over $1 billion inflows in a single day after Trump’s victory. 

The IBIT also surpassed Blackrock’s gold ETF in total assets held.

Strength in Bitcoin came even as the dollar shot up to a four-month high. Expectations of more inflationary policies under Trump underpinned the dollar, as markets bet on relatively higher interest rates in the long term. Mt Gox mobilizes $2.4 bln in Bitcoin

Defunct crypto exchange Mt Gox, which was at the heart of Bitcoin price weakness earlier this year, was seen moving about $2.4 billion in Bitcoin to two wallets on Monday, Coindesk reported. 

A mobilization of tokens usually heralds a sale or distribution, with Mt Gox still left with a large reserve of Bitcoin it still needs to return to creditors. 

But the exchange had lengthened its timeline for the planned distributions until late-2025. Reports of the token mobilization also did little to deter Bitcoin’s rally. Crypto price today: altcoin rally resumes, DOGE surges 40% 

Broader crypto prices rose sharply on Tuesday, picking up recent gains after losing some steam in the prior session.

Meme coin Dogecoin remained an outperformer, rallying nearly 42% on Tuesday to $0.393216. The token was boosted by increasing speculation that Elon Musk, who is a proponent of the crypto, will secure a position in the Trump administration.  

World no.2 crypto Ether rose 4.4% to $3,319.0, remaining close to a three-month high.

XRP , SOL , MATIC and ADA rose between 1.9% and 5.6%.

Source: Investing.com

Последние публикации
$62 Billion Hit: Bitcoin (BTC) Secures Mind-Blowing Record
21.11.2024 - 17:00
Bitcoin price today: hits record high above $98k on Trump, ETF options hype
21.11.2024 - 16:00
Crypto Liquidations Top $450 Million as Bitcoin Price Eyes $100,000
21.11.2024 - 16:00
Bitcoin to Finally 'Bury' Ethereum? Peter Brandt Issues Grim Epic 'Letter From the Grave' Call
21.11.2024 - 15:00
DOGE Founder Says Bitcoin Growth Dwarfs ‘Everything Else’ But What About Dogecoin?
21.11.2024 - 15:00
Exclusive: BoxBet exits stealth mode after securing strategic financing
21.11.2024 - 14:00
Bybit Launches Gold & FX Treasure Hunt Competition: Embark on a Quest for Real Gold Rewards
21.11.2024 - 14:00
Bybit Launches bbSOL Virtual Card, Bridging Solana Ecosystem with Innovative Features
21.11.2024 - 14:00
DegenLayer Introduces The First Memecoin Focused Blockchain
21.11.2024 - 13:00
Arcana Network Launches the First Ever Chain Abstraction Wallet, Ushering a New Era of Multi-Chain Transactions
21.11.2024 - 11:00
Bitcoin price today: hits record high over $97k on Trump hype, ETF options launch
21.11.2024 - 08:00
GMT DAO Launches Groundbreaking Burn Initiative with a Target of Up to 600 Million GMT
21.11.2024 - 07:00
AIntivirus Announces Initiative Inspired by the Legacy of John McAfee
20.11.2024 - 22:00
Bitcoin ETFs Attract Nearly $1 Billion in Just 24 Hours
20.11.2024 - 22:00
AI Platform bitGPT Experiences Significant Growth Following Binance Demonstration
20.11.2024 - 21:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?