By Milcah Tanimu
Bitcoin, the leading cryptocurrency by market cap, has reached a new all-time high, soaring to $89,360 on Tuesday morning, according to CoinMarketCap. The cryptocurrency rallied 9.6% as the U.S. presidential election results continue to fuel investor interest.
Bitcoin’s price momentum began on November 6, shortly after Donald Trump’s victory in the U.S. election, with the digital asset crossing $75,000. By November 10, Bitcoin surged past $80,000, driving the total crypto market capitalization to $3.16 trillion.
Ethereum also benefited from the bullish trend, climbing to $3,392 from $3,220 in just days. Trump’s open support for digital currencies, including a recent crypto fundraising initiative and partnership with World Liberty Financial, has further boosted the sector’s optimism.
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