In the early hours of Wednesday, Bitcoin reached a new all-time high by surpassing the $75,000 mark on exchanges like Binance and Coinbase, hitting a new ATH at $75,361. This rapid surge coincided with the announcement of election results favorable to Donald Trump, the Republican candidate and a figure perceived as pro-cryptocurrency. His triumphant return to the White House following his confirmed victory in the 2024 presidential election sparked notable enthusiasm within the crypto ecosystem.
L’élection de Donald Trump propulse Bitcoin vers un nouvel ATH
Bitcoin’s rise is not limited to purely speculative data. On the Coinbase exchange, a notable premium was observed, signaling increased demand from the US market, often considered a key indicator for overall price dynamics. Traders and investors view Trump’s return as a potential catalyst for more open policies towards digital assets, in contrast to the more reserved approach of defeated Democratic candidate Kamala Harris.
Une demande renouvelée et des signaux de marché positifs
Bitcoin’s upward trend continues from a climate nicknamed ‘Uptober,’ marked by increased liquidity of stablecoins and a rise in Bitcoin transactions on the network at the end of October. The bullish momentum appears ready to continue in the short term, with technical indicators and market positions showing an appetite for further positive trends.
DOGE: The Big Winner of the Elections?
In the wake of Bitcoin’s surge, Dogecoin (DOGE) experienced a spectacular increase, gaining over 20% in 24 hours and showing 30-day gains exceeding 65%. This performance makes it the top-performing token among major cryptocurrencies at the moment. Data reveals that liquidations of short positions on DOGE futures surpassed $30 million in just one day.
Interest in Dogecoin was bolstered by influential tech entrepreneur and Trump ally Elon Musk, who made a strong nod to the king of memecoins with his proposal to create a Department of Government Efficiency – the acronym D.O.G.E., a direct reference to the token. This humorous initiative stimulated enthusiasm for Dogecoin, causing a bullish contagion on other dog-themed tokens such as Shiba Inu (SHIB), Floki (FLOKI), and Bonk (BONK), all of which saw double-digit increases.
A Crypto Market Ready for New Heights?
Trump’s return to the helm of the United States has triggered an unexpected leverage effect on the entire crypto market. The sector is enjoying an optimistic atmosphere, fueled by favorable announcements regarding digital asset regulations and a more permissive view of financial innovation. The initial movement, starting with Bitcoin, appears to be spreading to other cryptocurrencies, increasing the likelihood of a broader bullish cycle in the coming weeks.
