Cardano

Spike

Bitcoin

Green

<p><a href="https://captainaltcoin.com/?s=BTC&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has reached a new all-time high as former U.S. President Donald Trump’s odds of winning the election reportedly climb to 94%. <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Trading at $74,525.96</a> with a 9.12% increase over the past 24 hours, Bitcoin’s momentum coincides with growing investor interest amid the ongoing election.&nbsp;</p>
<p>This price milestone marks Bitcoin’s highest level to date, supported by a massive 24-hour trading volume of $90.5 billion, up by 3.23% in the last week.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-s-historic-breakout-fuels-market-optimism-strong"><strong>Bitcoin’s Historic Breakout Fuels Market Optimism</strong></h2>
<p>The latest Bitcoin price surge reflects heightened confidence in digital assets as Trump leads in key U.S. states. Crypto analyst Gert van Lagen commented on this development, sharing that Bitcoin has finally broken free from a 7-month sideways trend, completing its wave 4 correction.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">ATH <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9be.png" alt="🦾" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> breaks out of 7-month sideways Base 4, validating the wave 4 correction is final.<br><br>Now blow-off wave 5 within (5) within ⑤&nbsp;is ready to take off in clear skies <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/NGSZnfS4EG" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NGSZnfS4EG</a></p>— Gert van Lagen (@GertvanLagen) <a href="https://twitter.com/GertvanLagen/status/1853997922070806621?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>According to van Lagen, Bitcoin’s current momentum suggests it is entering a “blow-off wave 5,” pointing to continued upside potential as it pushes through open market conditions.</p>
<p>Lark Davis, another influential figure in the crypto space, <a href="https://x.com/TheCryptoLark/status/1854021884318249165" target="_blank" rel="noopener noreferrer nofollow">highlighted Trump’s odds</a> on Polymarket rising to 94%, which is seen by some as a factor driving increased Bitcoin purchases. This correlation between election momentum and Bitcoin’s price uptick indicates how political events are influencing market behavior.</p>
<h2 class="wp-block-heading" id="strong-broader-crypto-market-in-the-green-as-interest-rises-strong"><strong>Broader Crypto Market in the Green as Interest Rises</strong></h2>
<p>The impact of Bitcoin’s ATH extends across the crypto market, where most tokens are showing gains. According to CoinMarketCap, the global crypto market cap <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">stands at $2.47 trillion</a>, an 8.50% increase over the past day.&nbsp;</p>
<p>Market enthusiasm has led to a sharp uptick in overall trading volume, reaching $145.62 billion—a 74.04% surge in 24 hours.</p>
<p>A snapshot from Crypto Bubbles further highlights the breadth of the market’s gains, with the majority of tokens flashing green. This widespread rally aligns with increased market optimism as investors watch both the election and Bitcoin’s upward trajectory.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="507" src="https://captainaltcoin.com/wp-content/uploads/2024/11/surge-1024x507.png" alt="" class="wp-image-578610" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/surge-1024x507.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-300x149.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-767x380.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-1536x761.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-2048x1014.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-303x150.png 303w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-707x350.png 707w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge-788x390.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/surge.png 1436w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Source: </em></strong><a href="https://cryptobubbles.net/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Crypto Bubbles</em></strong></a>
 </figcaption>
</figure>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/cardano-ada-price-to-spike-50-if-this-key-resistance-breaks/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Cardano (ADA) Price to Spike 50% If This Key Resistance Breaks</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-investors-eye-election-outcome-and-crypto-s-path-forward-strong"><strong>Investors Eye Election Outcome and Crypto’s Path Forward</strong></h2>
<p>The unfolding election has spurred substantial interest in both <a href="https://www.forbes.com/sites/antoniopequenoiv/2024/11/05/bitcoin-hits-all-time-high-as-election-betting-markets-predict-trump-win-race-too-close-to-call/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin and broader crypto</a> assets. With Trump’s odds climbing on popular prediction markets, the parallel rise in Bitcoin suggests that geopolitical factors are now significant in digital asset markets.&nbsp;</p>
<p>As the election outcome looms, Bitcoin’s new highs are viewed by many as a potential gateway for further price gains. This historic surge marks a crucial point for Bitcoin, establishing its place at the forefront of market sentiment.&nbsp;</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-price-breaks-new-ath-why-is-the-crypto-market-up-today/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Breaks New ATH: Why is the Crypto Market Up Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Price Breaks New ATH: Why is the Crypto Market Up Today?

Table of Contents

CaptainAltcoin

Other articles published on Nov 6, 2024

Analysts Predict Qubetics to Smash $15, Tron and Fantom Battle Market Forces

Cardano (ADA) Price to Spike 50% If This Key Resistance Breaks

Binance Lists Two New Altcoins on November 6, 2024

Top 5 Emerging AI Tokens Set to Revolutionize Crypto Markets With 7,000% Returns

Next Cryptocurrency to Explode, November 6 — The Root Network, Apu Apustaja, Dogecoin

Bitcoin price metrics align to project further upside for BTC

Join our free newsletter for daily crypto updates!