Bitcoin surged to a new all-time high of $76,400 after Donald Trump’s election victory, amplifying optimism across the crypto sector. The rally aligns with expectations of a bullish era under a crypto-friendly administration. BTC has gained 6.6% in the past 24 hours and over 21% in the last 30 days, supported by rising stablecoin liquidity and increased transaction volumes.
The market is looking ahead to Thursday’s Federal Reserve decision, with traders anticipating a 0.25% rate cut. Historically, lower rates benefit risky assets like Bitcoin by weakening the dollar and encouraging investment in alternative assets. Fed Chair Powell’s comments will be closely monitored for any hawkish undertones that could temper market enthusiasm.
In traditional markets, the “Trump trade” is boosting both stocks and bonds, with the dollar reaching recent highs as expectations build around economic growth and fiscal spending. Meanwhile, IBIT, the iShares Bitcoin Trust, saw a record trading volume of $4.1 billion on November 6, surpassing major stocks like Netflix and Visa. Other Bitcoin ETFs also experienced significant volume, reflecting strong market momentum. Despite the bullish environment, volatility is anticipated, especially with the Federal Reserve’s rate decision looming. Traders should remain cautious as the market digests these macro developments.
