Bitcoin Skyrockets Amidst Trump's Crypto Vision

Bitcoin reached a record high above $82,000 due to an expected cryptocurrency boom following Trump’s election as U.S. president and support from pro-crypto Congress candidates. Investors anticipate deregulation efforts and enhanced market infrastructure, contributing to significant ETF inflows and broad gains across multiple cryptocurrencies.

Bitcoin hit an all-time high on Monday, surpassing $82,000, driven by optimism for a cryptocurrency boom under a favorable regulatory environment following Donald Trump's election as U.S. president. Investors are betting on eased restrictions and the U.S. emerging as a 'crypto capital.'

Senior market analyst Matt Simpson highlights Republican control in Congress as a pivotal factor, with pro-crypto legislative support potentially reducing scrutiny from the U.S. SEC. Trump has openly criticized current SEC Chair Gary Gensler, promising his dismissal.

Increased institutional interest and significant ETF inflows have further fueled market optimism. Ethereum crossed $3,200, and cryptocurrency stocks like Coinbase exhibited strong premarket growth. Cryptocurrency investors expect Trump's administration to provide clarity and bolster mainstream adoption.

(With inputs from agencies.)