Bitcoin hits all-time record high over $81,000 amid Donald Trump’s victory wave, gains 93% in 2024

Bitcoin has surged to a new all-time high, surpassing $81,000, following the election victory of U.S. President-elect Donald Trump and his apparent support for digital assets, according to Bloomberg. The crypto market is also reacting to the possibility of a pro-crypto U.S. Congress under Trump's leadership.

As of 9:05 a.m. on November 11, Bitcoin reached $81,156.62, marking its second consecutive record high after it hit $80,000 on November 10. This follows a climb to $75,000 on November 6, shortly after Trump's election win, surpassing its previous all-time high of $73,797.98 from March 2024.

The broader crypto market, including tokens like Dogecoin, has also seen gains as bullish sentiment continues. Experts, such as Le Shi of Auros, attribute this surge to perceptions of Trump being favourable toward crypto. Bitcoin has risen about 93% in 2024, driven by ETF inflows and Federal Reserve interest rate cuts.

Richard Galvin of DACM and Noelle Acheson, author of Crypto Is Macro Now, share an optimistic outlook, forecasting sustained buying pressure due to Trump's pro-crypto stance and supportive regulatory promises.