Bitcoin surges above $81,000 on optimism over Trump

MG News | November 11, 2024 at 10:14 AM GMT+05:00

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November 11, 2024 (MLN): Bitcoin surged past $81,000 for the first time, following Donald Trump's return to the White House that traders bet would be good for the cryptocurrency.

The largest token jumped to $81,544 early in Asia on Monday, after rising 4.8% yesterday.

It has been rising since Trump last week won as the Republican candidate has vowed to put the US at the center of the digital-asset industry, including creating a strategic Bitcoin stockpile.

The cryptocurrency has soared about 93% so far in 2024, helped by robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve. That is more than returns from investments such as stocks and gold.

The ETFs, powered by BlackRock Inc.’s $35 billion iShares Bitcoin Trust, posted a record daily net inflow of almost $1.4 billion on Thursday, according to Bloomberg.

A day earlier, the iShares ETF’s trading volume jumped to an all-time peak — all signs of how Trump’s victory is reshaping crypto.

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KSE100	184,174.49 344.20M	1.01% 1836.37
ALLSHR	110,725.47 802.30M	1.02% 1116.66
KSE30	56,462.88 128.04M	0.96% 535.72
KMI30	261,050.23 116.63M	1.37% 3522.37
KMIALLSHR	71,230.99 382.91M	1.23% 862.76
BKTi	53,229.04 40.62M	1.01% 532.20
OGTi	38,590.42 18.06M	1.28% 488.37

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	84,560.00	84,945.00 81,210.00	160.00 0.19%
BRENT CRUDE	69.83	70.21 67.79	0.24 0.34%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.35 -2.64%
ROTTERDAM COAL MONTHLY	98.95	99.00 98.95	0.00 0.00%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	65.74	66.11 63.64	0.32 0.49%
SUGAR #11 WORLD	14.26	14.71 14.15	-0.44 -2.99%