Ethereum

2024

DeFi

Reserve

<p>Since the 2024<a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener"> U.S. presidential election</a> on November 5, Bitcoin’s price has surged by at least 12.79%. This increase, along with gains in other major cryptocurrencies, reflects growing optimism in the crypto market. After the <a href="https://coinpedia.org/news/federal-reserve-slashes-interest-rates-by-25-basis-points-sending-bitcoin-price-towards-new-ath/" target="_blank" rel="noreferrer noopener">U.S. Federal Reserve</a> announced its second 0.25% rate cut, more cryptocurrencies joined the ongoing rally. </p>   
<p>Here’s a breakdown of the <a href="https://coinpedia.org/news/crypto-price-today-nov-9th-2024-bitcoin-price-hits-new-ath-pol-matic-lead-ganiers/" target="_blank" rel="noreferrer noopener">current market situation</a>.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-reaches-new-record-high">Bitcoin Reaches New Record High</h2>   
<p>Bitcoin (BTC) is currently priced at $76,687.45, just short of $77K. On election day, BTC opened at $67,838.31. By November 6, the price peaked at $75,614.35, breaking its previous all-time high of $73,000 from March. Over the past two days, the market has grown by 1.25%, with a 0.8% increase in the last 24 hours.</p>   
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<h2 class="wp-block-heading" id="h-major-altcoins-follow-bitcoin-s-lead-nbsp">Major Altcoins Follow Bitcoin’s Lead&nbsp;</h2>   
<p>Bitcoin isn’t the only crypto seeing gains. Several <a href="https://coinpedia.org/price-analysis/top-altcoins-to-stack-immediately-to-maximize-short-term-gains/" target="_blank" rel="noreferrer noopener">top altcoins </a>have followed the rally. Ethereum (ETH) has gained 20.8% in the past week, while Cardano (ADA) is up by 22.7%. Binance Coin (BNB) and XRP have increased by 9.5% and 8.2%, respectively. Dogecoin (DOGE), the largest meme coin by market cap, has seen a significant rise of 30.3% in the last week.</p>   
<h2 class="wp-block-heading" id="h-solana-joins-the-bull-trend">Solana Joins the Bull Trend&nbsp;</h2>   
<p>With expectations that the new Trump administration will bring <a href="https://coinpedia.org/news/donald-trump-crypto-policies-for-2024-sec-reform-national-bitcoin-strategy-and-more/" target="_blank" rel="noreferrer noopener">clearer crypto regulations</a>, investor interest in DeFi projects has grown. Ethereum has benefited from this renewed interest in decentralized finance (DeFi). Meanwhile, Solana (SOL), a strong competitor to Ethereum in the DeFi space, has also posted impressive growth. Solana’s price has risen 20.6% in the past week, and it has gained 44.7% over the last month, compared to Ethereum’s 26.6% growth. </p>   
<p>Since the election, Solana has climbed 28.13%, from $157.95 on November 5 to $202.24.</p>   
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<h2 class="wp-block-heading" id="h-us-tradfi-markets-on-the-rise">US TradFi Markets on the Rise </h2>   
<p>Not only has the <a href="https://coinpedia.org/news/why-crypto-market-is-going-up/" target="_blank" rel="noreferrer noopener">crypto market surged</a>, but the traditional financial markets have also gained momentum post the US election. The S&amp;P 500 opened at $5,723.12 on November 5 and reached a monthly peak of $5,929.09 by November 6. The index is now approaching the $6,000 level, up 4.81% since election day.</p>   
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<h2 class="wp-block-heading" id="h-bitcoin-rally-nearing-its-peak">Bitcoin Rally Nearing Its Peak?</h2>   
<p>Some analysts, like Ari Paul, believe the current Bitcoin rally is in its final stage. Paul predicts that Bitcoin could reach a peak of $125,000 before the rally slows down. Many experts think that institutional investors are mainly driving this rally, with more retail investors likely to join as the price rises further.</p>   
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<h2 class="wp-block-heading" id="h-investment-strategy-for-current-crypto-market-conditions">Investment Strategy for Current Crypto Market Conditions</h2>   
<p>Crypto experts recommend holding onto high-potential assets that could deliver strong long-term returns. With Bitcoin and other major cryptocurrencies hitting new highs, strategic investments will be key to maximizing profits as the rally continues.</p>   
<p>With Bitcoin and other major cryptos continuing to break records, analysts are predicting more gains. Investors who choose wisely could see significant returns as the rally progresses.</p>

How High Will Bitcoin Price Go Amid Current Crypto Market Rally? Key Trends Revealed

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