Bitcoin approaches $100,000 following Trump's election victory

Bitcoin approached $100,000 for the first time on November 21, 2024, following Donald Trump's election as president. His victory has raised expectations for a more favorable regulatory environment for cryptocurrencies. Since Trump's election, Bitcoin's price has surged about 40%, more than doubling from a low of $38,505 earlier this year. The total cryptocurrency market cap also reached $3 trillion for the first time. This price increase marks a significant shift in investor sentiment, driven by optimism about potential regulatory changes under Trump's administration. Bitcoin's rise reflects broader trends in the cryptocurrency market, including increased interest in spot bitcoin exchange-traded funds.