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	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,550.00	117,615.00 117,510.00	-220.00 -0.19%
BRENT CRUDE	67.52	68.42 67.19	-0.43 -0.63%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.25	63.31 63.21	-0.01 -0.02%
SUGAR #11 WORLD	16.13	16.27 15.89	-0.14 -0.86%