From Investing.com

November 11, 2024 12:35:41 am:

Bitcoin hit a record high of $81,792.4 on Monday, buoyed by optimism towards cryptocurrencies following Donald Trump’s presidential victory. Dogecoin also surged to a three-year high. Increased capital inflows into crypto investment vehicles contributed to Bitcoin’s strong gains, driven by bets on Trump’s crypto-friendly policies.

Gains in Bitcoin and other cryptos were fueled by expectations of Trump enacting pro-crypto policies. Trump’s campaign promise to make America the crypto capital of the world boosted market sentiment. Traders bet on a softer stance from the Securities and Exchange Commission towards the industry, increasing its legitimacy as an investment vehicle.

Crypto exchange-traded funds saw significant inflows, with Bitcoin ETFs receiving a record $1.38 billion last Thursday. Blockrock’s iShares Bitcoin Trust surpassed Blackrock’s gold ETF in total assets, reaching $34.1 billion. Institutional interest in crypto, especially after the launch of spot Bitcoin ETFs in U.S. markets, has been a key driver of recent market gains.

While most major altcoins saw a mixed performance, Dogecoin stood out by surging 24% to a three-year peak of $0.280991. Speculation around Elon Musk potentially joining the Trump administration boosted DOGE. Ethereum fell 1% to $3,152.49, while other altcoins like XRP, Solana, and Cardano remained relatively stable.

Read more at Investing.com: hits record high above $81k on Trump cheer; DOGE at 3-yr peak By Investing.com