Bitcoin surged above $98,000 for the first time, driven by investors anticipating a second Donald Trump presidency. Crypto-related stocks, including Coinbase and MicroStrategy, saw significant gains, while bitcoin's rise was fueled by futures market activity and a wave of short liquidations. Analysts suggest the $100,000 milestone could be reached soon, with Trump’s potential policies seen as supportive of the cryptocurrency. A second Trump term could lead to larger budget deficits, higher inflation, and shifts in the dollar's international role, which may boost Bitcoin's price.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bitcoin surged above $98,000 for the first time, driven by investors anticipating a
00:07second Donald Trump presidency. Crypto-related stocks, including Coinbase and MicroStrategy,
00:12saw significant gains, while Bitcoin's rise was fueled by futures market activity and a
00:16wave of short liquidations. Analysts suggest the $100,000 milestone could be reached soon,
00:22with Trump's potential policies seen as supportive for cryptocurrency.
00:26A second Donald Trump presidency could lead to larger budget deficits, higher inflation,
00:31and shifts in the dollar's international role, which may boost Bitcoin's price.