Bitcoin price exceeds $90,000 for the first time following election night surge

Bitcoin's price has surpassed $90,000 for the first time, marking a significant increase of over 30% since election night. This rise follows a previous milestone of $80,000 just three days earlier. The total market value of Bitcoin has reached $1.8 trillion, more than doubling since late 2023. The cryptocurrency has seen a strong performance in 2024, with a 70% increase by the end of October. Much of this growth is attributed to the approval of spot bitcoin exchange-traded funds, which attracted new institutional investment. The recent rally has been linked to the election of Donald Trump, who has supported the crypto industry.