“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” Mould said.

Bitcoin surged to a record high in Asian trade as investors leaned towards Donald Trump winning the U.S. presidential election.

Bitcoin jumped to a record high, part of a wave of trades across global markets in response to Republican nominee Donald Trump’s push toward victory over Democratic rival Kamala Harris in the US presidential election.

Bitcoin rallied overnight, hitting an all-time high as Donald Trump racked up key wins in swing states. The price of the flagship cryptocurrency touched a record $75,000 on the nose, according to Coin Metrics.

The dollar was set for its biggest one-day rise since March 2023 against major peers on Wednesday and bitcoin jumped to an all-time high, with traders increasingly confident of a U.S. election victory for former president Donald Trump.

Crypto assets rose as investors bet that a second Trump administration will widen fiscal deficits and boost bitcoin as a hedge against higher inflation.

The dollar on Wednesday set for its biggest one-day rise since March 2020 against major peers. Bitcoin also jumped to an all-time high as so-called “Trump trades” took off, with traders increasingly betting on a U.