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	165,669.83 224.38M	-0.50% -829.00
ALLSHR	100,140.18 522.72M	-0.34% -341.23
KSE30	49,483.35 72.10M	-0.56% -280.66
KMI30	238,927.08 74.53M	-0.59% -1413.48
KMIALLSHR	65,349.10 271.13M	-0.38% -250.53
BKTi	44,872.01 40.44M	-0.59% -264.63
OGTi	35,121.55 5.94M	-0.37% -130.75

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,690.00	81,895.00 80,415.00	-930.00 -1.14%
BRENT CRUDE	108.54	109.68 106.26	2.82 2.67%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-2.95 -2.61%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	1.00 0.93%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	100.06	100.94 97.23	3.14 3.24%
SUGAR #11 WORLD	14.98	15.07 14.89	-0.01 -0.07%