Ethereum Rallies with Fresh Gains, Joins Bitcoin (BTC) in Post-Trump-Win Market Rally

Trump's election win has sparked a crypto market rally, breathing new life into several assets and driving fresh gains for even those with a slump.

The United States presidential election results have breathed new life into several crypto assets, driving fresh gains for even those that have experienced a slump recently. From Bitcoin (BTC) to memecoins, all-time highs and significant upticks have been recorded across the board, fueling overall increased market activity.

As the dust settles and the victor becomes clear, here’s a closer look at how the crypto market has reacted to the Trump election win.

Bitcoin, Ethereum See Fresh Gains

Following a period of hovering below $2,500, Ethereum has seen a surge in price. The token is trading around $2,950 at press time, thanks to a 6% increase in the last 24 hours.

Though modest, the gains build on a days-long positive run, bringing the token’s gains in the past week to 14%. This marks Ethereum’s highest value in over 30 days, signaling improved performance following its struggle to uphold positive momentum.

However, the token’s upward dance is not all isolated. It coincides with a surge in inflows into exchange-traded funds tied to the asset. Recently, ETH ETFs recorded almost $80 million in inflows, marking their third-highest single-day inflow since launch.

The increase in inflows also marks the reversal of weeks of fund underperformance, suggesting a parallel uptick in the ETF market and Ethereum’s price performance.

Meanwhile, Ether ETFs are not the only ones performing impressively in the exchange-traded funds world.

Bitcoin ETFs Hit All-Time High on November 7

The present boost in investor confidence and overall positive market sentiment triggered an all-time high record in the Bitcoin ETF sector on November 7, when BlackRock’s Bitcoin ETF IBIT saw inflows reaching $1.12 billion.

IBIT’s record inflows dominated the total $1.38 billion recorded across all issuers, evidencing increased market interest, particularly as Bitcoin surges to a new $75,000 all-time high.

Other issuers also recorded impressive inflows. These include Fidelity’s FBTC, Grayscale’s Mini Bitcoin Trust (BTC), and Ark Invest’s ARKB, which drew $190.92 million, $20.38 million, and $17.61 million, respectively.