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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Name	Price/Vol	%Chg/NChg
KSE100	177,856.67 208.01M	1.47% 2570.88
ALLSHR	107,922.46 445.82M	1.30% 1385.64
KSE30	53,089.73 72.32M	1.47% 768.75
KMI30	250,217.76 63.79M	1.39% 3442.13
KMIALLSHR	69,234.96 274.70M	1.26% 862.31
BKTi	50,561.85 23.09M	1.70% 843.62
OGTi	35,448.71 4.06M	0.92% 322.44

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,330.00	65,105.00 64,270.00	-755.00 -1.16%
BRENT CRUDE	84.54	85.55 84.30	-0.41 -0.48%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.25 -1.17%
ROTTERDAM COAL MONTHLY	120.00	0.00 0.00	0.45 0.38%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	79.50	80.59 79.14	-0.10 -0.13%
SUGAR #11 WORLD	14.74	14.86 14.72	-0.11 -0.74%