Historic Surge: Bitcoin Shatters Records as Trump Victory Sparks Crypto Market Frenzy

In a groundbreaking development that has sent shockwaves through the financial world, Bitcoin (BTC) has shattered all previous records, soaring past the $76,000 mark for the first time in history.

Bitcoin (BTC) price hit a record high of $76,330 on Wednesday as the cryptocurrency market surged following Donald Trump’s victory in the U.S. presidential election.

After eight months of market consolidation, Bitcoin’s breakout signals a potential new era. Some experts believe that the new political landscape will create a more crypto-friendly regulatory environment in the United States.

Here’s a closer look at the crypto market performance and key takeaways from market experts.

Bitcoin price soared to a record high of $76,330 on Wednesday, notching a 9.5% gain in 24 hours. The world’s largest cryptocurrency hit a previous peak of $72,800 in November 2020.

The second-largest cryptocurrency, Ethereum (ETH), surged to nearly $2,700, marking an 11% increase in 24 hours. The CoinDesk 20 Index measured the broader crypto market, which jumped 10.7%, with notable performers including Uniswap, Solana, and Render.

The rally hit short-sellers hard. Market data from CoinGlass showed that the surge triggered $592 million in liquidations of leveraged trading positions. Short-sellers, who bet against the market, took the biggest hit—losing about $390 million in what experts are calling the largest short squeeze in six months.

The stock market also caught the crypto fever. Coinbase, the leading U.S. crypto exchange, saw its shares rocket up by 31%. Bitcoin mining companies weren’t far behind—Riot Platforms, TeraWulf, and CleanSpark all enjoyed gains of 20–25%.

Traditional markets joined the party, with the Nasdaq jumping 3% and the S&P 500 climbing 2.5%. The widespread optimism stems from expectations that the new political landscape will create a more crypto-friendly regulatory environment in the United States.

David Lawant, head of research at FalconX, shares this optimism: “The election outcome couldn’t have been better for the industry.” He suggests we might see new crypto ETF products and increased comfort for U.S. token launches. However, he also warns of possible “last-minute enforcement actions by departing officials.”

After eight months of market consolidation that tested even the most patient investors, Bitcoin’s breakout signals a potential new era. Bob Loukas, a respected cross-asset trader, voiced what many are thinking: “There are no more excuses left for why it doesn’t fully send over the next 9–12 months.”

All eyes are now on Thursday’s Federal Open Market Committee meeting. Markets expect a 0.25% cut in interest rates, which could add more fuel to this historic rally.

This unprecedented surge marks a turning point in cryptography history. With Republicans projected to control both houses of Congress and a crypto-friendly administration taking the helm, the digital asset industry appears poised for transformative growth. The question now isn’t if Bitcoin will reach new heights—it’s how high it will go.