Bitcoin Surges to $96,000 Amid Optimism Over Trump's Crypto Plans

After Donald Trump's victory in the U.S. elections on November 5, a rally has begun in cryptocurrencies, suggesting that Bitcoin could trend towards $100,000. This morning, Bitcoin's price reached a new record of nearly $96,000. The price rose to $95,987 at one point and is currently trading at $95,692, reflecting a 1.3% increase from yesterday.

Since the beginning of the month, Bitcoin's price has increased by 36.87%, and it's up 128.35% year-to-date. IG Markets analyst Tony Sycamore stated, "Although it has entered the overbought territory, it is gravitating towards the $100,000 mark." During his campaign, Trump embraced digital assets and promised to make the U.S. the "crypto capital of the planet" and to accumulate a national Bitcoin stockpile. Since the election, over $4 billion has flowed into Bitcoin exchange-traded funds listed in the U.S.