$75,000, Bitcoin hits a new all-time high this year, Trump leads significantly as funds no longer diverge
As Trump leads in key swing states, the price of Bitcoin has reached $75,000, breaking its historical high for the second time this year. It turns out that Bitcoin is the most sensitive asset in the U.S. elections.
On October 29, after stumbling for 3 months, Bitcoin has finally climbed back above $70,000. $70,000 seems to be a critical integer, being both the peak of the bull market in 2021 and a psychological integer for many to decide whether to jump in. The first historical high for Bitcoin this year was $73,777 in March, thanks to the boost from ETFs; the second new high has led the community to jokingly say, "Let’s have presidential elections every day."
GSR research analyst Toe Bautista stated that from the perspective of altcoins, many project teams have been waiting for the right moment, observing the issuance of other tokens and the election results. He also believes that if macro conditions remain favorable, the price of Bitcoin may rise further. "It’s easy to foresee Bitcoin reaching $80,000, whether in Q1 next year or by the end of this month."
Election expectations are about to materialize
The final result of the U.S. presidential election will also be determined just hours after Bitcoin breaks its historical high, with Trump currently in a leading position.
