Bitcoin Skyrocket on Trump‑Led Bull Rush
For the seventh straight day, Bitcoin keeps breaking the ceiling, hitting a new all‑time high of $81,943. The crypto has been on fire, and the reason? A sudden surge in optimism after Donald Trump went back into the White House.
What’s Fuelling the Fire?
- Trump’s “Crypto‑Friendly” Vow – He promised to sweep away the regulatory roadblocks that have kept many merchants away from digital money.
- Congress may now be on board – with the GOP controlling both chambers, lawmakers could drop the legal hurdles that keep the crypto market tight.
- Lauren, the Fed’s latest move cuts rates by 25 basis points, giving investors a taste of a softer economy that boosts risk appetite.
SEC Chair Gensler? Gone? Maybe.
Trump’s campaign said he’d fire SEC Chair Gary Gensler on his first day. Gensler is already known as the “anti‑crypto” boss behind a string of lawsuits that hit even the big crypto companies. If Trump actually moves on that, a legal showdown could last months. But investors are already chewing on the idea – and it’s making Bitcoin blush.
ETF Frenzy
Since Trump won, more than $2 billion has flown into spot Bitcoin ETF trades. One single day saw $1.38 billion – the fastest pace ever for ETFs. Crypto.com’s CEO even shouted that the future of digital money is “looking brighter” now.
Futures: Hotter Than a T‑shirt in July
Bitcoin futures have reached a historical record. Open interest is hovering around $50 billion for the first time, proving that the buying crowd is still gnawing away at anything that can beat the market.
Economic Backstop
The other reason for the bullish run is a favorable economic backdrop. The Fed’s recent rate cut aligns with Powell’s upbeat speech about a steadfast U.S. economy. While the January cut probability has shrunk, the December meeting still looks promising.
So, if you’re looking for a bullish narrative that’s both recent and sensational, this is the moment. Bitcoin is soaring, the market’s roaring, and who knows what the next high will be? The crypto world got a fresh boost, and it’s all moving in the same direction: up, up, and hopefully, high.
