{"id":18355,"date":"2024-11-06T09:01:05","date_gmt":"2024-11-06T07:01:05","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-hits-record-high-of-75000-amid-us-election-uncertainty\/"},"modified":"2024-11-06T09:01:05","modified_gmt":"2024-11-06T07:01:05","slug":"bitcoin-hits-record-high-of-75000-amid-us-election-uncertainty","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-hits-record-high-of-75000-amid-us-election-uncertainty\/","title":{"rendered":"Bitcoin Hits Record High of $75,000 Amid US Election Uncertainty"},"content":{"rendered":"

On Wednesday, November 6, the price of the leading cryptocurrency briefly reached $75,000, setting a new all-time high.<\/p>\n

\"Snimok-ekrana-2024-11-06-v-08.53.57\"
5-minute BTC\/USDT chart from Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, Bitcoin is trading at $74,800.<\/p>\n

According to CoinGecko<\/a>, the digital gold has gained 9.2% over the past 24 hours. The asset’s market capitalization stands at $1.48 trillion.<\/p>\n

The surge in the leading cryptocurrency was driven by the release of preliminary results from the US presidential election. The New York Times estimates<\/a> Donald Trump’s chances of victory at over 95%.<\/p>\n

According to Associated Press<\/a>, at the time of writing, the Republican has secured 247 of the 270 electoral votes needed to win. His competitor Kamala Harris has 214. The count continues.<\/p>\n

On the prediction platform Polymarket, Trump’s victory is almost certain, with odds at 98.8% against 1.2% for the Democrat.<\/p>\n

\"Snimok-ekrana-2024-11-06-v-09.11.33\"
Data: Polymarket<\/a>.<\/figcaption><\/figure>\n

Following Bitcoin, other digital assets in the top 10 by market capitalization also moved into the “green zone.” Dogecoin rose by 25.2% and Solana by 16.1% over the day.<\/p>\n

\"Snimok-ekrana-2024-11-06-v-09.19.38\"
Data: CoinGecko.<\/figcaption><\/figure>\n

The total market capitalization of digital assets is $2.6 trillion. Bitcoin’s dominance index is 60.8%.<\/p>\n

According to Coinglass<\/a>, the total volume of liquidated positions over the past day amounted to $490 million, with $363 million in shorts.<\/p>\n

\"Snimok-ekrana-2024-11-06-v-09.21.58\"
Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n

On October 29, digital gold surpassed $72,000. The following day, the asset broke through $73,000 and approached its all-time high but failed to surpass it. Bitcoin then entered a correction, only to return to levels above $70,000 amid the US elections.<\/p>\n

Analysts at Bernstein believe that if Trump is elected, the leading cryptocurrency could reach $80,000-90,000, while a Harris victory could lead to a drop to $50,000. In a positive outcome for Bitcoin, it could approach this target by the inauguration day on January 20, 2025, experts noted.<\/p>\n

Traders have bet on a new ATH<\/span> for digital gold by the end of November and increased volatility following the US elections.<\/p>\n

Earlier, Tyr Capital and Bitget Research warned of heightened price fluctuations for the asset following the announcement of the presidential race results. A similar opinion was expressed by Standard Chartered.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, November 6, the price of the leading cryptocurrency briefly reached $75,000, setting a new all-time high. 5-minute BTC\/USDT chart from Binance. Data: TradingView. At the time of writing, Bitcoin is trading at $74,800. According to CoinGecko, the digital gold has gained 9.2% over the past 24 hours. The asset’s market capitalization stands at […]<\/p>\n","protected":false},"author":1,"featured_media":18354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1280],"class_list":["post-18355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-elections"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18355"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18354"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}