Trump's return as president fuels bitcoin rally to new high of $81,000

Donald Trump’s return as U.S. president has sparked a significant rally in bitcoin, which recently reached an all-time high of $81,000. Investor confidence is rising due to Trump’s pro-business and pro-crypto stance, which includes plans to ease regulations on digital assets. The surge in bitcoin prices is also linked to increased interest in bitcoin mining, as Trump’s administration may deregulate the energy sector. This could make mining more profitable and attract further investment in the cryptocurrency market. Bitcoin has gained about 85% in 2024, driven by demand for bitcoin-based exchange-traded funds and interest rate cuts. The momentum suggests potential for further price increases as the market reacts to Trump’s policies on cryptocurrency.