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Surging on the back of Donald Trump’s re-election and a Federal Reserve rate cut, Bitcoin rallied to new all-time highs this week, going as far up as $77K. Monumental spot ETF inflows have come in the wake, with $1.3B being recorded on Thursday as Blackrock’s IBIT saw a new record of $1.1B.
Overall, the potential of a uniquely supportive pro-crypto environment in the U.S., complete with lofty plans of strategic Bitcoin reserves, has mixed with the 25 basis points cut to create the perfect storm for Bitcoin and crypto overall. While the real test will come when Trump ascends to office and does (or does not) deliver on his promises, until then, we look clear for takeoff.
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