Global Crypto Market Surpasses $3 Trillion as Bitcoin Soars Following Trump's Election Victory

The global crypto market has just crossed the impressive $3 trillion mark after Donald Trump won the U.S. Presidential election. According to CoinGecko, the total market cap now sits at about $3.076 trillion. That’s a 5% drop from the previous cap of $3.184 trillion in just the last 24 hours.

Bitcoin (BTC) is leading the charge, up 17.3% from a week ago, currently trading at $89,207. Matthew Dibb, who is the chief investment officer at Astronaut Capital, shared his thoughts with Reuters. He said, “Generally, the way this market goes is Bitcoin will break out and then the rest of the altcoins will follow.” This means that as Bitcoin rises, other cryptocurrencies often follow suit.

David Glass, a digital asset strategist at Citi, pointed out that investors are feeling optimistic. They’re hopeful that the Trump administration might ease the regulatory pressures on the crypto industry. He noted, “People wanted more exposure to crypto, clearly, from the Trump presidency and they wanted more risky asset exposure in general.”

Furthermore, Carl Szantyr, founder and managing partner at Blockstone Capital, believes Bitcoin could rise even further. He stated, “Bitcoin enthusiasts are known for bold predictions, but hitting $100,000 by year-end seems feasible.”

It’s clear that the market is buzzing with excitement and potential. Keep an eye on these developments!