Bitcoin approaches $90,000 as markets react to Trump's election victory

Bitcoin approached $90,000 on Tuesday, reaching $89,637, a 25% increase since November 5. This surge follows Donald Trump's election as U.S. president, with expectations that his administration will support the cryptocurrency sector. Tesla's stock also rose nearly 40% since the election, reflecting investor optimism in tech and crypto companies. Crypto mining firms like Riot Platforms and MARA Holdings saw significant gains, benefiting from the positive market sentiment. MicroStrategy announced a $2 billion Bitcoin purchase, boosting its stock by 26%. Other cryptocurrencies, including Ethereum and Dogecoin, also experienced price increases amid hopes for reduced regulatory scrutiny under a Trump administration.