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Bitcoin hit another high Monday, as the rally in cryptocurrencies continued following President Donald Trump’s election win.
The price of the flagship cryptocurrency was last higher by more than 12% at $89,174, according to Coin Metrics.
Recently, it hit a fresh high of $89,623. Ether was up more than 7% to $3,371.79 after a 30% gain in the past week that pushed it back over the $3,000 mark over the weekend.
The decentralized finance token tied to Cardano ticked 4.7% higher. Dogecoin continued to rise, up almost 24%. In the regular trading session on Monday, Coinbase closed up 19.8%, while MicroStrategy advanced more than 25.7%. Both stocks were higher in extended trading as well, CNBC news reports.
Moreover, President Trump during his campaign promised to prioritize the US digital-asset sector, including a strategic Bitcoin stockpile and pro-crypto regulatory appointments—have invigorated the industry.
Cryptocurrency supporters contributed over $100 million to back crypto-friendly candidates, hoping to see swift regulatory advances.
The President-elect’s broader agenda of tax cuts, reduced regulatory barriers, and growth-focused economic reforms has also spurred gains across stocks, credit, and crypto markets.
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The S&P 500 reached its 50th record high of the year last week, reflecting the market’s buoyant response to Trump’s pro-business policies.
As Trump’s transition team begins, traders remain optimistic, pushing aside concerns about the feasibility or timeline for implementing his crypto-related pledges.
For now, the market’s bullish sentiment underscores the digital-asset industry’s confidence in a pro-crypto White House.
