Synopsis
The global cryptocurrency market cap increased by 0.9% in the last 24 hours, reaching around $2.52 trillion.
On Wednesday, Bitcoin jumped nearly 8%, surpassing $75,000 and setting a new all-time high, breaking its previous record from March. Dogecoin also surged by up to 25%, fueled by its popularity as a favored cryptocurrency of billionaire Elon Musk, an outspoken Trump supporter.
The cryptocurrency market showed mixed trends on Thursday, a day after President-elect Donald Trump’s decisive win on Wednesday.
Major tokens, including Bitcoin, Dogecoin, Shiba Inu, Tron, and Near Protocol, experienced declines of up to 9%. In contrast, Ethereum, BNB, Cardano, Avalanche, Chainlink, and Polkadot recorded gains of up to 8%.
Crypto Tracker
TOP COIN SETSDeFi Tracker9.00% BuyAI Tracker8.01% BuyCrypto Blue Chip – 54.89% BuyWeb3 Tracker2.52% BuyNFT & Metaverse Tracker0.20% BuyTOP COINS (₹) Ethereum237,460 (7.74%)BuyBNB50,368 (2.06%)BuySolana15,872 (1.41%)BuyBitcoin6,317,835 (1.3%)BuyTether84 (0.4%)BuyAs of 11:59 a.m. IST, Bitcoin (BTC) was trading 0.7% lower at $74,770, while Ethereum surged 8.3% to $2,819. During the early trade, however, BTC had touched its all-time high of $76,460.
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View Details »The global cryptocurrency market cap rose 0.9% over the past 24 hours, reaching approximately $2.52 trillion.
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On Wednesday, Bitcoin had surged nearly 8%, breaking past $75,000 and setting a new all-time high, surpassing its previous record from March. Dogecoin also soared by as much as 25%, spurred by its status as a favourite cryptocurrency of billionaire Elon Musk, a prominent Trump supporter.
“Bitcoin’s rise to $76,460 within 24 hours of Trump’s win drew significant interest from both retail and institutional investors,” said Edul Patel, CEO of Mudrex. “If this momentum holds, BTC could soon approach $80,000, facing resistance at $78,500 and support at $71,900.”
Shivam Thakral, CEO of BuyUcoin, commented, “Trump’s victory has sparked optimism in the crypto market, reflecting hopes for a more favourable regulatory environment. Investors are watching for sustained momentum as the market absorbs the election outcome, indicating potential growth in the sector.”
Avinash Shekhar, Co-Founder and CEO of Pi42, noted, “The market’s response to Trump’s win has been mixed, particularly for XRP, which has shown only a modest rise amid broader gains. This points to investor caution, driven by uncertainties surrounding Trump’s policies and the long timeline before he takes office.”
According to data available on , the volume of all stablecoins is now $165.58 billion, which is 93.34% of the total crypto market 24-hour volume.
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.479 trillion. Bitcoin’s dominance is currently 58.95%, according to . BTC volume in the last 24 hours fell 3.04% to $85.14 billion.
“Bitcoin broke through significant resistance levels, including the 67,241 and 70,000 marks, signalling strong upside momentum. A further rise to 8,4547 or higher is now forecast. Despite low volume at price tops and high volume at bottoms, which could weaken the breakout, the technical outlook for Bitcoin and cryptocurrencies in general remains positive in the medium to long term,” said Sathvik Vishwanath, Co-Founder & CEO, Unocoin.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
