US election results: Bitcoin price at record high, crosses $75,000 as Donald Trump seen to have edge over Kamala Harris

Bitcoin price after US elections: Bitcoin reached an unprecedented peak on Wednesday, crossing $75,000 for the first time after initial US presidential election results trends indicated that Republican Donald Trump held a narrow lead over Democratic candidate Kamala Harris. This milestone surpassed the previous record of $73,750, demonstrating strong market confidence.
Bitcoin traded at $75,060, showing an 8.4% increase. Additionally, Ether increased by 7.2%, reaching $2,576. The market's positive response appears influenced by Trump's more favorable stance on cryptocurrencies compared to Harris, according to an ET report.
The dollar index strengthened following Trump's initial polling results, increasing 1.25% to 104.72, measuring against six major currencies including the euro and yen.
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Financial experts indicate that Trump's proposed policies on immigration restrictions, tax reductions, and comprehensive tariffs would likely increase inflation and bond yields more significantly than Harris' moderate-left agenda.
The yields on US Treasury bonds increased, with the 10-year note reaching 4.351% from 4.279%, approaching the recent four-month peak of 4.388%. The two-year yields rose to 4.241% from 4.189%.
Alternative cryptocurrencies also showed significant increases: BNB (+5%), Solana (+13.5%), XRP (+5%), Dogecoin (+21.6%), Cardano (+6.6%), Shiba Inu (+10%), Avalanche (+12.3%), and Chainlink (+11.4%).
Stablecoin volume totals $100.92 billion, representing 92.46% of total 24-hour cryptocurrency market activity, based on CoinMarketCap data.
Bitcoin's market capitalization increased to $1.445 trillion, maintaining its position as the largest cryptocurrency. CoinMarketCap reports Bitcoin's market dominance at 59.86%, with 24-hour trading volume increasing 40.89% to $59.26 billion.