Bitcoin Soars Amid Trump's Economic Policies Uncertainty

Global stocks faced pressure from concerns over President-elect Trump's policies, boosting Bitcoin near a record $90,000. Investors anticipate tariff hikes and tax cuts, impacting currencies like the euro and yuan. Uncertainty surrounds Trump's approach towards trade, influencing markets and currency strengths, particularly the U.S. dollar.

Global stock markets stumbled on Tuesday as investor anxiety mounted over the economic policies of U.S. President-elect Donald Trump. Meanwhile, Bitcoin soared close to a record $90,000 as traders flocked to assets anticipated to thrive under the new administration.

Investors are channeling funds towards assets expected to benefit from Trump's second term, amid promises of import tariff hikes, tax cuts, and easing regulatory constraints. While major stock indices such as the S&P 500 hit new highs, currencies like the euro and Chinese yuan have taken hits under looming trade tensions and China's economic challenges.

Market analysts suggest a dual impact from Trump's anticipated policies, balancing concerns over aggressive trade positions with China and expectations of a Republican-majority Congress supporting a more pro-crypto stance. Meanwhile, economic indicators such as U.S. inflation data and Federal Reserve communications are closely watched for market direction.

(With inputs from agencies.)