Bitcoin Reaches All-Time High With Trump Victory

CoinDesk 20 Index: 2,190.41 +9.66%

Bitcoin (BTC): $74,541.68 +8.34%

Ether (ETH): $2,635.55 +8.06%

S&P 500: 5,782.76 +1.23%

Gold: $2,704.50 -1.3%

Nikkei 225: 39,480.67 +2.61%

Bitcoin surpassed the $75,000 level in European morning hours as Donald Trump moved one step closer to his seat in the White House. The candidate, who introduced himself as pro-crypto, also turned Pennsylvania in his favor by winning in critical states such as North Carolina and Georgia. As Pennsylvania, which many see as key to the election outcome, swung in Trump’s favor, the bitcoin (BTC) price traded at 74,000. This level is only 1.3% lower than BTC’s all-time high of 75,363.66. The overall digital asset market, as measured by the CoinDesk 20 Index, has increased by more than 9% in the last 24 hours.

In the crypto market, which rose due to the election results, DOGE and SOL were among the major tokens that gained the most value. Memecoin DOGE increased by over 25%, reaching almost $022. DOGE is trending 20% ​​higher in the last 24 hours thanks to Trump supporter Elon Musk. Musk proposed a new agency called the “Department of Government Efficiency” (DOGE) to make government spending and monetary planning more effective. This move is a clear reference to the DOGE token as a gesture to Trump’s Republican campaign. SOL, meanwhile, rose nearly 20% to $188.30 as hopes grew that a pro-crypto administration could facilitate approval of the Solana ETF.

Crypto stocks gained more than 10% in premarket trading. MicroStrategy increased by 12% to $255 and is close to breaking a record, rising almost 280% year-to-date. Coinbase also gained 12% to $220 per share. Bitcoin miners Riot, Marathon and IREN are up more than 10%. Another notable stock is Metaplanet, which is up 24% and has gained over 1,100% since the beginning of the year. Semler Scientific’s 30% increase to $39 yesterday also attracted attention. Bitwise Europe Head of Research André Dragosch told CoinDesk that the market’s initial reaction reflects the expectation that a pro-crypto administration will be the catalyst for a new bull run.

The US 10-year Treasury yield rose 20 basis points to 4.47%, breaking a one-year downward trend line. The increase reflects concerns that Trump’s promised tariffs and immigration controls could make inflation more persistent. Source: TradingView