Bitcoin's price surge to around $81,700 is primarily fueled by expectations of pro-crypto policies under Donald Trump’s administration, marking a significant shift in market sentiment.
Trump's campaign promises to make the U.S. the 'crypto capital of the world' and establish a Bitcoin reserve have generated considerable excitement among investors, who anticipate long-term market support.
With the Republican Party controlling the Senate, Trump's administration is positioned to implement favorable regulations for cryptocurrencies, fostering greater adoption of digital assets in the U.S. economy.
The recent stability in the cryptocurrency market is also bolstered by Jerome Powell's comments, which have reassured investors about the Federal Reserve's monetary policy remaining unchanged in the near future.
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