Trump’s victory has boosted the Bitcoin price in the current session. This surge has been a topic of discussion in the crypto realm ever since Trump extended his support for the Bitcoin market.
Along with Bitcoin’s surge following the Trump victory, Musk’s favorite meme coin- Dogecoin- has also shown a notable gain in this bull run. DOGE token has shown a massive ascent of over 18% within a day! IntelMarkets’ (INTL) presale also receives a massive boost in this session as the Bitcoin price increases.
Bitcoin Price Hits New All-Time High
Bitcoin price reached a new all-time high above $75,000 today, marking a pivotal moment in the cryptocurrency market. The Bitcoin price surged by more than 9%, touching $74,614. This latest rise followed favorable U.S. election results for the crypto-friendly candidate, Donald Trump. With Trump’s odds of winning climbing to 96% on the betting platform Polymarket, traders responded enthusiastically.
Bitcoin’s price rally builds upon a seven-month upward trend, which began when it first broke past its previous high of $69,000 in March 2024. Since then, Bitcoin moved up to $73,000 in March but has remained within a $50,000–$70,000 range.
Another factor contributing to Bitcoin’s price growth is its halving event in April 2024, when mining rewards were cut from 6.25 BTC to 3.125 BTC. Halvings historically reduce the rate of Bitcoin supply entering the market, often fueling price appreciation.
Additionally, the newly introduced U.S. Bitcoin spot ETFs have attracted considerable investment. Since their launch in January, they have seen over $450 billion in daily trading volume, with inflows reaching $22.5 billion this year alone. However, recent data on ETF flows indicates a mixed outlook. On November 5, U.S. spot Bitcoin ETFs saw net outflows of $72.67 million, marking a three-day streak of withdrawals. Fidelity’s Bitcoin ETF, FTBC, recorded the largest single-day outflow of $68.24 million.
Dogecoin Responds Bullishly: DOGE Surges Over 18%!
Throughout his campaign, Trump demonstrated his pro-crypto stance, from advocating for “all remaining Bitcoin to be made in the USA” to becoming the first presidential candidate to accept BTC as a payment.
On the other hand, his prominent supporter, Elon Musk, the CEO of Tesla, has a long history of endorsing crypto, both directly and indirectly through hints. His tweets have been key catalysts for Dogecoin’s price rallies. In the context of the 2024 US election, DOGE’s price response seems aligned with the “Department of Government Efficiency (D.O.G.E.)” D.O.G.E. is presumably the idea of a new government commission that could be chaired by Elon under Trump’s rule.
At present, DOGE exhibits a bullish stride — an almost 20% pump over the last 24 hours. DOGE flipped Ripple’s XRP and became the seventh-largest cryptocurrency by market capitalization. Moreover, the meme coin has entered an overbought zone, marked by its RSI exceeding 70.
IntelMarkets To Soar Following Listing On DigiFort Wallet
IntelMarkets (INTL) is excited to announce its highly anticipated listing on DigiFort, which marks a significant milestone in its path toward transforming AI-powered trading. A wider range of traders and investors may now access IntelMarkets’ advanced trading tools, such as its dual-chain trading and AI-powered analysis, all thanks to this listing.
DigiFort’s safe and effective trading environment allows users to take advantage of IntelMarkets’ cutting-edge capabilities. The DigiFort listing not only makes IntelMarkets more accessible but also solidifies its standing as a leading AI cryptocurrency project ready to offer distinct, growing potential to a worldwide market.
The AI platform is currently in its presale phase 5, moving ahead with a momentum that has never been seen before. Its preceding phases made records in the ICO space by raising over $1.9M in funding in just a few weeks.
This came after their private seeding round which was also a hit, as it collected over $550k from Fortune 500 investors. Currently, each INTL token is being sold out for a mere $0.04. Analysts are calling this point a steal deal, considering its potential to generate over 10,000% returns ahead.
Discover More About Intel Markets:
Presale:https://intelmarketspresale.com/
Buy Presale:https://buy.intelmarketspresale.com/
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