The cryptocurrency market witnessed a surge in the aftermath of Donald Trump’s victory in the U.S. presidential election.
The cryptocurrency market has seen a sharp rise following Donald Trump's victory in the United States
presidential election, with Bitcoin leading a historic rally that hit an all-time high of $89,604.50, according to data from CoinMarketCap. The largest cryptocurrency has surpassed $1.74 trillion in market cap, gaining nearly % in the past week and surpassing silver's market cap. The staggering rally came after Bitcoin crossed the previous all-time high of $73,000 earlier this year.
The BTC rally is reverberating across the sectors, with major players in the sector benefiting from it. Software company MicroStrategy, which holds the largest corporate stake in Bitcoin, saw its stock price hit a 24-year high of $351.73 Shares of COIN on US crypto exchange Coinbase jumped to $334.86 , a high price not seen since late 2021.
Technical indicators suggest that this upward trajectory may continue. Parabolic SAR shows strong bullish momentum, while the Relative Strength Index (RSI) shows high enthusiasm from buyers in overbought territory. Market observers are also wondering if Bitcoin could breach the symbolic $100,000 mark sooner than many think.