According to Cointelegraph: Bitcoin has crossed the $90,000 threshold for the first time, continuing a record-breaking run following Donald Trump’s victory in the 2024 U.S. presidential election. BTC/USD peaked at $90,000 on Coinbase at 12:56 PST on Nov. 12, marking an 11% gain in just 24 hours, according to TradingView data. Since the Nov. 5 election, Bitcoin has surged nearly 30%, fueled by optimism for a more crypto-friendly environment under Trump’s administration.
Six-Figure Predictions in Sight as BTC Climbs
With Bitcoin now just over 11% away from the highly anticipated $100,000 milestone, analysts speculate that continued pro-crypto policies under the new administration could push BTC into six-figure territory by the end of the year. Trump’s campaign highlighted favorable crypto policies, driving expectations for increased institutional interest and a bullish regulatory environment.
Crypto Stocks and Miners Join the Rally
The broader crypto market has also benefited from the post-election optimism. Shares of Coinbase, the largest U.S.-based crypto exchange, surged 75% since Nov. 5, hitting a near three-year high. Coinbase closed at $324.24 on Nov. 11, reflecting a 20% gain in a single day. U.S.-based crypto mining companies like Marathon Digital Holdings saw similar gains, with shares up nearly 30% on Nov. 11. Other crypto miners, including CleanSpark and Hut 8, also posted significant gains.
S&P 500 and Altcoins See Strong Growth
The U.S. stock market has mirrored crypto’s bullish trend. The S&P 500 surged 4.25% since election day, reaching a new record above $6,000 on Nov. 11. Major altcoins have also rallied, with Solana (SOL) rising 35% since Nov. 5, marking its highest level since December 2021. SOL hit $222 on Nov. 11, underscoring the widespread gains across both crypto and traditional markets.
