Bitcoin nears $100,000 as investor optimism surges after Trump election

Bitcoin is approaching $100,000 for the first time, driven by investor optimism following Donald Trump's election as president. The cryptocurrency has more than doubled from a low of $38,505 earlier this year and has risen about 45% since the election. Key developments include the SEC's recent approval of multiple spot bitcoin ETFs, which has boosted market confidence. Additionally, a federal appeals court ruled in favor of Grayscale, prompting the SEC to reconsider its previous rejection of the company's ETF application. The total cryptocurrency market cap has reached $3 trillion, with significant inflows into ETFs this year. Bitcoin's price has surged approximately 40% since Trump's election, reflecting growing investor interest in a potentially favorable regulatory environment for cryptocurrencies.