Bitcoin has reached a historic milestone, surpassing $81,000 (€76,000) for the first time, driven by growing optimism surrounding the potential for a Trump-led administration to favor cryptocurrencies.
The price surged 6.7% over the weekend and continued to climb, with analysts predicting the digital currency could soon hit six figures.
The rally is part of the broader “Trump trade,” as many Bitcoin investors anticipate more favorable US cryptocurrency regulations under a potential Trump presidency compared to the current policies under President Joe Biden. This optimism has sparked a wave of buying, not only in Bitcoin but also in other cryptocurrencies. Ethereum rose by 8%, while Cardano saw a remarkable 30% increase.
Bitcoin’s price has surged 35% in the past month and has gained 94% year-to-date, with much of the growth attributed to the “Trump trade,” which is fueling expectations of a more crypto-friendly regulatory environment.
