Ethereum

2024

United

Bitcoin

<p>Bitcoin prices reached a record high of $76,444 during late trading on Wednesday, building on previous price peaks earlier in the day.</p>
<p>The move comes as the US presidential election results <a href="https://cryptopotato.com/bitcoin-altcoins-explode-as-election-results-keep-rolling-in/" data-wpel-link="internal" rel="noopener noreferrer nofollow">filtered</a> in throughout the day and Donald Trump was declared the winner.</p>
<p>Trump crossed the 270 electoral vote threshold with 295 to Kamala Harris’ 226, with just 17 more electoral votes to be counted in Nevada and Arizona at the time of writing.</p>
<p>“America has elected the most pro-crypto Congress in history,” <a href="https://x.com/coinbase/status/1854192162360942702" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">stated</a> the country’s largest exchange, Coinbase, in a post on X on Nov. 6.</p>
<h2 id="bitcoin-booms-on-trump-win">Bitcoin Booms on Trump Win</h2>
<p>The big Bitcoin boom has resulted in the asset gaining a solid 20% over the past month and pushing its year-to-date gains to 78%.&nbsp;The asset had retreated slightly during the Thursday morning Asian trading session, pulling back to trade at $74,500 at the time of writing.</p>
<p>Crypto industry analysts and commenters were rejoicing at the Trump victory, with ‘The Bitcoin Therapist’ <a href="https://x.com/TheBTCTherapist/status/1853563100001112359" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">telling</a> his 140,000 X followers that “Trump is going to send Bitcoin to $250K.”</p>
<p>Additionally, Bitcoin has <a href="https://cryptopotato.com/bitcoin-returns-to-top-10-biggest-global-assets-by-market-cap-after-soaring-to-75k/" data-wpel-link="internal" rel="noopener noreferrer nofollow">surpassed</a> Facebook’s parent Meta in terms of market capitalization, which is currently $1.48 trillion compared to Meta’s $1.44 trillion, according to CompaniesMarketCap.</p>
<p>Moreover, talk of a strategic Bitcoin reserve for the United States has been revived again, adding to the momentum.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">The United States needs a Strategic <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> Reserve. <a href="https://t.co/ZKy3WMbuaz" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ZKy3WMbuaz</a></p>
 <p>— Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1854225177501934050?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">November 6, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>There has also been a boom in institutional interest, as spot Bitcoin ETFs saw huge inflows on Wednesday, reversing a three-trading-day trend of outflows.</p>
<p>Bloomberg ETF analyst Eric Balchunas <a href="https://x.com/ericbalchunas/status/1854281747082477696" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">commented</a> that the BlackRock IBIT ETF just had its biggest volume day ever, with $4.1 billion traded. “For context, that’s more volume than stocks like Berkshire, Netflix, or Visa saw today,” he added.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Boomers will hear Trump and Larry Fink shilling BTC on the TV &amp; then pull up the IBIT chart to see this <a href="https://t.co/6Ry9ZFYl1G" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/6Ry9ZFYl1G</a></p>
 <p>— Will (@WClementeIII) <a href="https://twitter.com/WClementeIII/status/1854292171869823334?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">November 6, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="ethereum-awakes">Ethereum Awakes</h2>
<p>Bitcoin is not the only crypto asset moving at the moment, as Ethereum has finally awoken from its <a href="https://cryptopotato.com/ethereum-prices-continue-to-sink-but-bulls-remain-defiant/" data-wpel-link="internal" rel="noopener noreferrer nofollow">long slumber</a>.&nbsp;ETH prices have surged 10% on the day hitting $2,872 during the Thursday morning Asian trading session. It is the highest Ethereum has traded since early August when the asset fell below $3,000.</p>
<p>The Ethereum ecosystem and underlying asset have been plagued with <a href="https://cryptopotato.com/quality-of-fud-falling-off-a-cliff-ethereum-community-fights-misinformation/" data-wpel-link="internal" rel="noopener noreferrer nofollow">FUD and misinformation</a> over the past few months as ETH prices failed to move with the rest of the market.</p>
<p>However, it appears to have finally awoken, with analysts now changing their tunes. In a post on X to his 320,000 followers, ‘ryandcrypto’ said that the ETH rally to $5,000 will be “the most hated rally of all time.”</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> rally to $5,000 is going to be the most hated rally of all time <a href="https://t.co/fWtFuRbcGo" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/fWtFuRbcGo</a></p>
 <p>— ryandcrypto (@ryandcrypto) <a href="https://twitter.com/ryandcrypto/status/1854332127912825005?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">November 7, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The post <a href="https://cryptopotato.com/bitcoin-hits-ath-above-76k-and-ethereum-finally-awakes-surging-to-3-month-high/" rel="noopener noreferrer nofollow">Bitcoin Hits ATH Above $76K and Ethereum Finally Awakes, Surging to 3-Month High</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Bitcoin Hits ATH Above $76K and Ethereum Finally Awakes, Surging to 3-Month High

Table of Contents

CryptoPotato_News

Other articles published on Nov 7, 2024

Detroit Officials Announce Tax Payments Can Be Made Using Cryptocurrency

Federal Reserve cuts rates by a quarter point amid fears of Trump takeover

U.S. Spot Bitcoin ETFs See $621.9 Million Net Inflows, Reversing Recent Outflow Trend

Ripple prepares for SEC policy shift amid Trump’s pro-crypto agenda

Crypto Capital In the Making: Will Donald Trump Launch the U.S. Bitcoin Act?

Swiss bank UBS tests blockchain for cross-border payments with digital cash

Join our free newsletter for daily crypto updates!