Donald Trump was elected the next President of the United States, and both the traditional financial markets and the cryptocurrency market began to digest Trump's electoral victory.
In the traditional financial markets, the US dollar and US Treasuries surged due to the election results, but because Trump's previous discussions on reducing immigration, broadly imposing tariffs, and tax cuts could potentially drive up inflation, gold and oil prices both fell after the election results were finalized.
In the cryptocurrency market, Bitcoin's price was the first to directly react to Trump's victory, continuously setting new highs. During his campaign, Trump made many promises to the crypto industry, including not supporting CBDCs and establishing a national Bitcoin reserve. For the more strictly regulated altcoin market, if these crypto-friendly regulatory policies can be continuously implemented, it will truly promote the recovery of the altcoin market.
