Bitcoin Hits New Record Above $73.8K, DOGE Surges 17% as Trump Polymarket Odds Shoot to 80%
Author: Content Editor
Bitcoin reached a new all-time high above $73,000 as election results favored crypto-friendly Republican Donald Trump. BTC saw a 7.5% increase in the past 24 hours, with traders perceiving a Trump win as positive for the industry compared to Democrat Kamala Harris. The spike in BTC's price could be attributed to a $94 million liquidation of bearish bets against the asset. In addition, BTC is trading at a premium on Coinbase, indicating increased demand in the US. Dogecoin (DOGE) also saw a significant increase, rising nearly 20% since Tuesday. DOGE's rise may be influenced by Elon Musk's support for the Republican campaign and a parody DOGE token on Ethereum. This bullish sentiment is also spreading to other dog-themed tokens like shiba inu (SHIB), floki (FLOKI), and bonk (BONK). Overall, the crypto market is responding positively to Trump's favorable election results.