Bitcoin surged to a new all-time high of $75,000 on cryptocurrency exchanges like Binance, Coinbase, and others on Wednesday morning in Asia, as election results favored the pro-crypto Republican candidate Donald Trump.
BTC has risen 9% over the past 24 hours, with a strong boost in the last two hours, mirroring Trump’s odds on Polymarket, where traders currently estimate an 85% chance of him winning the U.S. presidential election.
Most crypto traders see a Trump victory as a bullish signal for the market compared to Democratic candidate Kamala Harris, who is not considered particularly crypto-friendly.
Meanwhile, DOGE has also jumped nearly 30% over the past 24 hours, extending its 30-day gains to over 83%, making it the top-performing token in the top 10. The increase in DOGE’s price is reportedly due to Elon Musk’s strong support for Donald Trump.
Optimism for DOGE appears to be spreading to other dog-themed tokens, with Shiba Inu (SHIB), Floki (FLOKI), and Bonk (BONK) each up by more than 10%.
Early trends from Fox News show Trump leading in Kentucky, Florida, West Virginia, and four other electoral votes, significantly outpacing his opponent Kamala Harris. As of this report, Trump leads with 216 electoral votes to Harris’s 193.
