Bitcoin has broken its previous record, surpassing the $82,000 mark after Donald Trump’s re-election as US President. Investors have pumped over $2.28 billion into Bitcoin ETFs in just three days, with BlackRock attracting $1.1 billion through ETF IBIT. The futures market has reached record volumes of $45.43 billion, but has maintained balance at this new high.
Profit-taking has been relatively gentle this time, around $1.6 billion, compared to $3.1 billion in March. Bitcoin may need a slight decrease to around $77,000 to close the CME gap before continuing its upward momentum. The US economy has shown high consumer confidence, stable growth, and gradually cooling inflation.
The Federal Reserve has cut interest rates by 0.25%, and consumer sentiment is at its highest since April. Tether has expanded its scope by financing a $45 million crude oil deal in the Middle East, and the SEC has delayed the decision on Ethereum ETF, citing concerns over investor protection and market stability.
