Bitcoin hits record high of $87,000 as Trump Trade boosts markets

Bitcoin surged over 25% since the election results, reaching a record high of $87,000. This increase is linked to a market trend known as the "Trump Trade," which has also boosted trading volumes for Bitcoin ETFs. In contrast, gold prices have dropped since the election, although they remain near all-time inflation-adjusted highs. The stock market saw Republican policy stocks gain, with financials rising 2.8%, while small-cap stocks outperformed and the Nasdaq lagged. The cash bond market was closed for Veterans Day, but futures indicated selling pressure, suggesting a rise in yields. The dollar strengthened to post-election highs, while crude oil prices fell to two-week lows.