Bitcoin, Solana Hit New Cycle Highs Against Ether as Trump Edges Closer to U.S. Presidency

Bitcoin (BTC) surged to an all-time high above $75,000 as Republican Donald Trump looked set to clinch the U.S. presidency, trading around $74,000 on major exchanges.

Crypto was one of the biggest winning industries on the Trump triumph, with total market capitalization hitting $2.45 trillion, the highest since June, according to the TradingView metric TOTAL.

The widely watched ratio tracking the relative price strength of ether (ETH) against bitcoin dropped to its lowest level since April 2021, suggesting a fallout in investor demand for the second-largest token.

Over the past five years, the ratio has risen from 0.02 to above 0.08 in early 2022, meaning ETH quadrupled in value relative to BTC at the time.

Read at Coindesk