Bitcoin has reached an unprecedented high of $76,000 following Donald Trump's US presidential election victory, which many investors view as a positive development for cryptocurrencies. Trump's campaign has embraced digital assets, accepting crypto payments and proposing the US become the "crypto capital of the world."
The rise in Bitcoin's value has positively impacted stocks of related companies like Coinbase and MicroStrategy, reflecting institutional investment interest. Over $50 billion in Bitcoin ETFs illustrate traditional financial acceptance, with analysts forecasting Bitcoin could reach $150,000 by 2025.
Open Interest (OI) in Bitcoin has surged, indicating trader confidence in continued price rises as it grows 13.29% to over $45 billion in two days. This suggests proactive market positioning amid prevailing optimism regarding Bitcoin's future growth prospects.
As the political landscape evolves under Trump, regulatory clarity is expected to further stimulate institutional interest, propelling Bitcoin's ascent. Investors anticipate continued volatility in the crypto market as political forces interplay with financial dynamics, questioning not the direction but the rate of Bitcoin's growth in this new scenario.
