Since Trump's victory, the crypto market has been booming. At 7:20 AM Beijing time on November 12, BTC reached a high of $89,553.2, with a 24-hour increase of over 10%.
Other cryptocurrencies have also risen significantly. As of the time of writing, ETH is priced at $3,309.23, with a 24-hour increase of 3.3%; Solana is at $217.20, with a 24-hour increase of 3.2%; Dogecoin is at $0.3529, with a 24-hour increase of 20%.
What are the current driving factors in the crypto market? How long until BTC reaches the $100,000 mark?
According to Whale Alert, Tether Treasury minted an additional 2 billion USDT on Ethereum around 1:07 AM Beijing time on November 12. Tether CEO Paolo Ardoino commented that this is an authorized but unissued transaction, meaning it will be used as inventory for the next issuance requests and on-chain exchanges.
As Musk has always been a crypto enthusiast, Tesla holds a significant amount of bitcoin. According to data disclosed by Arkham on platform X, the value of bitcoins held by Tesla, owned by Elon Musk, has reached $1 billion.
The asset management company Bernstein also urged investors to 'increase their investment in Bitcoin and cryptocurrencies as soon as possible.'
Additionally, according to El Salvador's The Bitcoin Office, El Salvador is still executing the 'daily acquisition of 1 BTC plan'. Coincidentally, according to Arkham, the 12,568 bitcoins held by the Bhutanese government have surpassed a value of $1 billion.
