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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|---|
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| BITCOIN FUTURES | 73,550.00 | 74,620.00 71,845.00 | 2225.00 3.12% |
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| SUGAR #11 WORLD | 14.28 | 14.44 14.24 | -0.09 -0.63% |
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