CandleFocus Bitcoin, Solana Hit New Cycle Highs Against Ether as Trump Edges Closer to U.S. Presidency
2024-11-06
Author: Content Editor
Bitcoin reached an all-time high above $75,000 following Donald Trump's potential victory in the U.S. presidential election. The cryptocurrency market also experienced a surge, with the total market cap reaching $2.45 trillion, the highest since June. Meanwhile, the ratio tracking the price strength of Ether against Bitcoin dropped to its lowest level since April 2021, indicating a decrease in investor demand for Ether. Solana, on the other hand, continued to outperform Ether, reaching new cycle highs. Despite Bitcoin's success, profit-taking occurred, resulting in a slight pullback from its all-time highs.
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