Here’s the fallout for Bitcoin, gold, stocks after Donald Trump’s win

On November 6, Republican presidential candidate Donald Trump won the United States election, becoming the country’s 47th president. His victory triggered all sorts of reactions in various financial assets, as market participants rejoiced or expressed disappointment at the election outcome.

A tweet from blockchain analytics firm Santiment has revealed that crypto and equity markets were loaded with positive momentum as soon as the election results were released, while other asset groups showed little or no optimism .

Assets react to Trump’s victory

Bitcoin (BTC) rose roughly 13% from $68,000 to $77,240 on excitement over the election results. The cryptocurrency began to rally when it was clear that Trump was leading Kamala Harris, the candidate of the Democratic Party, at the polls and surpassed its all-time high after the result was announced. It continued to move further in the following days and its current record ATH stands at $77,200.

According to Santiment, the S&P 500 hit a new all-time high of 6,011 as investors expressed confidence in a business-friendly economy following Trump’s inauguration in January 2025. Euphoria also stemmed from the belief that capital gains would remain stable during Trump’s next four years in office.

On the other hand, gold and silver, considered safe-haven assets, went against BTC and the S&P 500, falling about 5%. Santiment said this price movement could cause investors to move their funds from precious metals to risk assets like crypto.

“Increased market confidence appears to be causing investor comfort that they can profitably move money away from precious metals (generally more fear-driven) and into bullish and speculative assets like cryptocurrency for now,” he said. say the analytical firm.

BTC to continue bullish momentum

Although Trump’s victory led to a positive movement in the prices of financial assets, the crypto market, in particular, is optimistic about the historic victory due to the favorable position of the president.

In recent years, US authorities have battled with entities in the crypto space, including exchanges and decentralized platforms, with the country’s securities agency allegedly trying to regulate the industry through law enforcement. During his campaign, Trump promised to turn things around and create a more supportive environment to foster crypto innovation in the country.

As the industry awaits the introduction of the new regime in 2025, BTC is expected to post further gains as the second phase of the bull market gets underway.

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