Bitcoin surged to a new record of $75,000 overnight, driven by rising speculation about former President Donald Trump gaining momentum in the U.S. election.
As election results started to come in, Bitcoin saw a 7% jump, reaching $74,392 after briefly surpassing its previous high of $73,797.68 in March. The price spike coincided with Trump’s strong performance in key battleground states, including North Carolina.
Read more: Trump Secures Two Key Swing States, Tightening Harris’ Route to Victory
Other companies like Coinbase and MicroStrategy also saw gains, as investors braced for market volatility until a clear election outcome is determined.
Analysts predict that Bitcoin’s movements will largely depend on the election results, with new highs likely if Trump wins, but potential short-term sell-offs if Vice President Kamala Harris takes the lead.
Historically, Bitcoin has experienced strong growth after U.S. elections, especially in halving years. Investors are anticipating a continued upward trend, with a favorable Trump result expected to spark further optimism in the market.
