Bitcoin Surges on Speculation of Trump Election Win

Bitcoin surged past its previous all-time high, reaching over $75,000, amid speculation that Donald Trump might win the U.S. presidential election, which is perceived as favorable for cryptocurrency regulation. The cryptocurrency has seen significant gains, with analysts predicting continued volatility but overall bullishness due to potential U.S. policy rate cuts and the broader acceptance of digital assets by both political parties. The increase in Bitcoin's price has been attributed to institutional investments and speculation that a Trump victory could further boost the market. Meanwhile, altcoins like Dogecoin also benefited from the election-driven market dynamics, with prices rising sharply. Despite the market's upbeat sentiment, traders expect continued volatility, particularly following increased outflows from Spot Bitcoin ETFs. Analysts suggest that Bitcoin could reach $100,000 by the end of the year if current trends persist.