Bitcoin SURGES Past All-Time High After Trump Win

As election results poured in on and after election day, #Bitcoin crossed a new all-time high as it broke through $74,000.
Donald Trump reclaimed the presidency after passing 270 electoral college votes, and odds of a Republican sweep continued to rise as congressional results poured in. Republicans regained control of the Senate in powerful fashion, after former head of the Senate Banking Committee Sherrod Brown was ousted from the seat he has held since 2007 by challenger Bernie Moreno.
While results of House races were too close to call for control, odds of a Republican sweep surged to hit 98% on betting site Polymarket as of Wednesday morning. Since polls first closed Tuesday night, Bitcoin had surged 7%.
Other cryptocurrencies also surged, with Ethereum rising 8% and Elon Musk's favored Dogecoin rising another 17%. The backdrop seemed to just be the beginning of a longer spike to potentially top $100,000 before 2024 comes to an end.
Fundstrat's Head of Digital Asset Strategy Sean Farrell, who had previously predicted Bitcoin will cross $115,000 by the end of the year, had said the reaction would be fast as results trickled in.
"A red sweep... would immediately dismantle the anti-crypto regulatory apparatus ... and force investors to adjust their modeled probability of the U.S. adopting BTC as a strategic reserve asset upwards from zero," Farrell said.
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