Bitcoin surges above $81,000 on optimism over Trump
MG News | November 11, 2024 at 10:14 AM GMT+05:00
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 | 165,124.41 104.27M | -1.18% -1964.87 |
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| KSE30 | 49,004.16 46.99M | -1.68% -837.55 |
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| OGTi | 33,558.03 3.78M | -1.23% -416.63 |
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|---|
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| BITCOIN FUTURES | 83,765.00 | 84,320.00 82,645.00 | 1295.00 1.57% |
| BRENT CRUDE | 105.33 | 105.43 104.70 | 0.61 0.58% |
| RICHARDS BAY COAL MONTHLY | 128.50 | 0.00 0.00 | 1.00 0.78% |
| ROTTERDAM COAL MONTHLY | 143.40 | 0.00 0.00 | -0.70 -0.49% |
| USD RBD PALM OLEIN | 1,167.50 | 1,167.50 1,167.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 92.42 | 92.43 91.71 | 0.57 0.62% |
| SUGAR #11 WORLD | 20.27 | 20.44 20.09 | 0.12 0.60% |
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