Originally published on: November 06, 2024
Bitcoin has seen a significant surge, reaching an all-time high of $75,350 following Donald Trump’s victory in the 2024 presidential election. Despite recent fluctuations, the market remains stable, indicating potential for further growth. Bitcoin derivatives and futures markets show optimism with a premium rise of 12%, reflecting improving sentiment and institutional interest.
Investor caution persists due to past price struggles and uncertainties surrounding upcoming interest rate decisions. Trump’s proposed economic policies could impact Bitcoin demand, potentially shifting focus away from alternative hedge instruments like gold.
Analysts suggest continued upward momentum in Bitcoin’s price, supported by options markets and moderate optimism in futures markets. With the US five-year Treasury yield on the rise, concerns about economic growth and monetary policy could provide a bullish outlook for Bitcoin.
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