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	173,518.82 409.23M	-3.56% -6408.23
ALLSHR	105,463.40 895.64M	-3.48% -3807.29
KSE30	51,709.62 172.22M	-3.72% -1996.09
KMI30	244,367.91 157.85M	-3.61% -9164.01
KMIALLSHR	67,803.26 534.35M	-3.35% -2349.37
BKTi	49,017.52 55.15M	-3.88% -1979.98
OGTi	34,971.98 16.59M	-3.44% -1244.10

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,935.00	63,965.00 61,925.00	1585.00 2.54%
BRENT CRUDE	87.25	87.55 83.68	3.95 4.74%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.15 -1.08%
ROTTERDAM COAL MONTHLY	118.50	118.50 118.50	-1.00 -0.84%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	80.85	81.27 77.86	2.71 3.47%
SUGAR #11 WORLD	14.75	14.86 14.67	0.00 0.00%