Bitcoin’s price surpassed $80,000 for the first time in history, reaching a new inflation-adjusted high of $80,116 on November 10, just days after Donald Trump’s re-election.
The cryptocurrency has surged nearly 80% in 2024, driven by strong demand for US-based exchange-traded funds (ETFs) and Federal Reserve interest rate cuts.
Bitcoin’s market growth has outpaced traditional assets like stocks and gold, with ETFs such as BlackRock’s $35 billion iShares Bitcoin Trust (IBIT) playing a significant role.
On November 8, IBIT saw daily net inflows of nearly $1.4 billion, and the day before, its trading volume hit a record high, underscoring the bullish impact of Trump’s political comeback on the crypto market.
