bullish

Donald Trump

Bitcoin

<p>The crypto market’s post-U.S. election surge has generated colossal gains for Wall Street, with profits estimated at $1.4 billion on futures alone, according to the latest data from Forbes.</p> 
<h2 id="h-american-banks-ride-the-bullish-wave-of-bitcoin">American banks ride the bullish wave of Bitcoin</h2> 
<p>American banking giants have massively invested in the <a href="https://www.cointribune.com/en/bitcoin-derivatives-data-rekindles-hope/" target="_blank" rel="noreferrer noopener">Bitcoin derivatives markets</a> in the weeks leading up to the presidential election.</p>
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<p>The <a href="https://cointelegraph.com/news/bitcoin-record-highs-push-big-banks-profits-billions" target="_blank" rel="noreferrer noopener">CFTC data</a> reveals that these institutions have accumulated 10,564 new futures contracts, representing 52,820 BTC. At the Chicago Mercantile Exchange (CME), their long positions now reach $3 billion, with an average entry price of $65,800.</p> 
<p><a href="https://www.cointribune.com/en/usa-election-the-explosive-revelations-from-jpmorgans-ceo-leak/" target="_blank" rel="noreferrer noopener">JPMorgan</a>, Goldman Sachs, and SG Americas Securities are among the key players in this digital gold rush. Between October 8 and 15, their open positions surged from 1,200 to 11,766 contracts, increasing from $373 million to $3.8 billion. At current prices, these positions are valued at $5.3 billion, generating a performance of 36% in less than a month.</p> 
<p>Although banks are limited in their ability to directly hold Bitcoins, they leverage derivatives and ETFs to capitalize on the volatility of the crypto market.</p> 
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<h2 id="h-the-impact-of-trump-s-victory-on-the-crypto-market">The impact of Trump’s victory on the crypto market</h2> 
<p>The bullish momentum of Bitcoin has significantly strengthened since the <a href="https://www.cointribune.com/en/trump-in-the-white-house-who-are-the-billionaires-who-benefited-from-it/" target="_blank" rel="noreferrer noopener">re-election of Donald Trump</a> on November 6. Markets anticipate a more favorable approach from federal regulators under the new administration, propelling the entire crypto sector to new heights.</p> 
<p>This confidence is also reflected in the performance of companies in the sector. Coinbase (COIN) saw its stock jump 20% on November 11, exceeding $300 for the first time since 2021. The total market capitalization of crypto now reaches $3.17 trillion, a 119% increase year-on-year.</p> 
<p>The combination of favorable political factors and growing institutional interest continues to support the <a href="https://www.cointribune.com/en/bitcoin-breaks-through-92000-dollars-the-100000-target-is-approaching/" target="_blank" rel="noreferrer noopener">bullish momentum of Bitcoin</a>, suggesting new opportunities for traditional finance players.</p>

Crypto: How American Banks Trapped The Post-Election Market

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