Bitcoin surges above $81,000 on optimism over Trump

By 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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Name	Price/Vol	%Chg/NChg
KSE100	131,136.79 80.85M	0.34% 450.13
ALLSHR	81,686.09 374.12M	0.47% 380.83
KSE30	40,123.95 34.40M	0.45% 178.50
KMI30	191,206.22 40.45M	0.27% 508.17
KMIALLSHR	55,145.24 182.03M	0.13% 71.09
BKTi	35,012.71 6.50M	1.29% 444.32
OGTi	28,598.38 3.11M	-0.49% -140.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,440.00	110,525.00 109,125.00	-975.00 -0.88%
BRENT CRUDE	68.21	68.89 68.13	-0.59 -0.86%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	108.45	0.00 0.00	0.25 0.23%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.44	67.18 66.39	-0.56 -0.84%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%