Bitcoin approaches $90,000 as investors anticipate Trump administration's crypto policies

Bitcoin is approaching $90,000, having risen over 30% since the U.S. presidential election on November 5. The cryptocurrency reached a record high of $89,637 on Tuesday, driven by expectations of a more crypto-friendly approach under President-elect Donald Trump. During his first term, Trump criticized Bitcoin, but he has since shifted his stance, promoting himself as a supporter of digital currencies. He has promised to make the U.S. a leader in the crypto space and plans to replace the current head of the Securities and Exchange Commission. Despite its popularity, Bitcoin remains a speculative asset, known for significant price fluctuations. After peaking at $69,000 in late 2021, it fell below $16,000 before recovering to its current levels.