Crypto News Catchup: Trump’s Victory Ignites Bitcoin Boom, Record Highs and Pro-Crypto Policies Set Stage for $100K Target

Following Donald Trump’s re-election, BlackRock’s Bitcoin ETF saw a staggering $1 billion in trading volume within minutes of market opening, signaling strong investor interest in crypto under a pro-crypto administration. Analysts expect Bitcoin’s price to surge further, with predictions of reaching $100,000 by Trump’s inauguration. Trump’s win has spurred optimism in the crypto sector, as he has pledged to make the US a global “crypto capital.” Bitcoin ETFs have dominated 2024’s top ETF launches, and asset managers are eagerly awaiting regulatory approval for additional crypto-focused ETFs, anticipating favorable conditions under Trump’s presidency.

Donald Trump’s recent election win has sparked optimism for a Bitcoin rally, with some analysts predicting the cryptocurrency could hit $100,000 by year-end. Bitcoin reached a new high of $76,400 after Trump’s victory. Market volatility and increased leverage in the crypto space drive bullish sentiment. The Republican-led Congress is expected to foster pro-crypto regulations, boosting long-term prospects for the industry. Following the election, Bitcoin ETFs saw significant inflows, signaling Wall Street’s optimism in crypto under Trump’s administration. However, inflation concerns remain a potential headwind.

Trump’s re-election victory caused the BTCUSD to surpass the $73,589.90 barrier and reach a new all-time high at $76,336.70. This upward movement is bolstered by the 50-period Exponential Moving Average (EMA), the Momentum oscillator, and the Relative Strength Index (RSI). Specifically, prices are currently trading above the 50-period EMA, the Momentum oscillator is above the 100 threshold, and the RSI is above 50, all indicating sustained upward momentum in the near term.
If favorable market conditions persist, Bitcoin’s next price targets are $79,723.10, $84,659.29, and $95,728.67.

Donald Trump’s election win has highlighted the accuracy and potential of blockchain-based prediction markets, with platforms like Polymarket and Kalshi accurately forecasting his victory ahead of traditional polls. Polymarket saw record trading volumes, totaling $3.6 billion, as traders placed high-stakes bets on the outcome. This success has fueled confidence in prediction markets, with advocates arguing they offer a more accurate gauge of public sentiment than polls. Experts see this as a significant moment for blockchain technology, marking a shift towards market-driven forecasting as a reliable tool for major events.

Donald Trump’s re-election has sparked optimism in the crypto industry, with the prospect of pro-crypto policies and regulatory changes ahead. Trump’s promises include appointing a crypto-friendly SEC Chair, establishing a national bitcoin reserve, and ending “Operation Choke Point 2.0,” which restricted crypto’s access to traditional banking. The crypto community is hopeful that these initiatives and a Republican-controlled Congress will lead to favorable legislation for the industry. Analysts predict that these developments, combined with anticipated Fed rate cuts, could drive Bitcoin to new heights, with price targets ranging from $90,000 by year-end to $200,000 by 2025.

Following Donald Trump’s election victory, US Senator Cynthia Lummis announced plans to create a US “Strategic Bitcoin Reserve.” This initiative aligns with Trump’s campaign promises, including his commitment to retain all US-held Bitcoin and establish a long-term national Bitcoin stockpile. Lummis’s BITCOIN Act of 2024 proposes purchasing up to 200,000 BTC annually, building a reserve of up to 1 million BTC to be held for at least 20 years. The US government currently holds about 212,847 BTC from criminal seizures, valued at approximately $15 billion. Trump also promised regulatory support for Bitcoin mining within the US and a crypto-friendly policy shift.

In conclusion, Donald Trump’s re-election has set the stage for a transformative period in the crypto industry, with Bitcoin already reaching record highs and pro-crypto policies on the horizon. Plans for a national Bitcoin reserve and anticipated regulatory reforms signal a new era of government engagement with digital assets. As investors and institutions react to Trump’s crypto-friendly stance, Bitcoin’s price trajectory remains optimistic, with projections as high as $100,000 by inauguration. This election marks a pivotal moment, reinforcing the growing influence of crypto on financial markets and policy.