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Bitcoin surged past $73,800 for the first time since March 13, briefly hitting $75,000, as early election results showed Donald Trump in the lead.
At the start of the New York trading session, Bitcoin (BTC) rallied over 3%, reaching an intra-day high of $70,577 amid election-related volatility in the crypto market.
Several hours after the US trading day ended on November 5, Bitcoin hit a new all-time high of $75,000.85 at 3:08 am UTC on November 6 on Coinbase, according to TradingView.
Early election results from the Associated Press showed Trump leading with 198 electoral college votes compared to Kamala Harris’ 112 as of 3:30 am UTC on November 6. A minimum of 270 electoral votes is required to win.
Throughout 2024, traders have been optimistic about Bitcoin’s price potential if Republican presidential candidate Donald Trump wins the election. Both Republican and Democratic candidates have adjusted their policy views on cryptocurrency regulation over the year.
Sentiment: Positive
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