Bitcoin Hits $77,000, Surging to a New All-Time High

After recently reaching a new all-time high, Bitcoin doesn't seem to be losing momentum and continues to surge.

The latest achievement is breaking the $77,000 level after surgin by around 0.3% on the daily chart and 10.8% in the past 7 days.

This places Bitcoin as the 9th most valuable asset in the world with $1.52 market cap – just shy of the 2nd largest commodity, silver.

Bitcoin’s extraordinary uptick started on the day of the elections in the U.S. an quickly spreadout to other cryptocurrencies.

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Bitcoin Outpaces Gold Post-Election as Investors Flock to Crypto

During the past 24 hours $264.47 million were liquidated from the crypto market – $136.36 million being long positons and $128.13 million in shorts. Bitcoin accounted for $64.07 million of these positions.

Investors are feeling the bullish hype after Donald Trump was announced the winner of the 2024 presidential race and pro-crypto candidates succeded in securing the seats at the Senate.

This is expected to bring crypto-friendly legislation to the U.S., which could propel the prices even further.

Alexander Stefanov