Bitcoin hits new high near $90,000 as analysts eye $100,000 target

Bitcoin reached a new record high of nearly $90,000 on Monday, following the recent U.S. elections. This surge is attributed to expectations of a more favorable regulatory environment for cryptocurrencies under President-elect Donald Trump. Analysts are optimistic about the crypto market, suggesting that investors consider entering, though they advise caution due to potential risks. Bitcoin's price has increased by 14.1% since Election Day, and analysts are setting sights on a target of $100,000. In addition, spot bitcoin exchange-traded funds (ETFs) saw significant inflows during election week, totaling $1.63 billion. Major ETFs like BlackRock's iShares Bitcoin Trust led the way, contributing to a strong performance in the crypto market overall.