Bitcoin has surged past $75,000, reaching a new record amid increasing clarity on the U.S. presidential race. This milestone marks a sharp uptick in crypto action, breaking its previous high of just over $73,000 set in March. Trading earlier today hovered around $71,000 before the meteoric rise.
As the market anticipates a Trump-led administration, Bitcoin’s rally underscores its strong connection to U.S. political events. Historically, Bitcoin has seen a notable rally around election cycles, with the cryptocurrency gaining over 450% in the year following the 2020 election. By the end of 2021, it hit a record of nearly $69,000—a peak now comfortably surpassed.
Market watchers remain cautiously optimistic, noting that while record highs might seem daunting for new buyers, the current narrative is buoying the bullish trend. As Trump’s campaign gains momentum—reportedly backed by prominent tech figures like Elon Musk—the “Trump effect” appears to be igniting fresh investor interest in digital assets.
While some analysts advise caution at such elevated price levels, Bitcoin’s strength around critical political moments, especially in the U.S., suggests continued support on any pullbacks.
