Bitcoin price surged past $90,000 following Donald Trump’s recent election victory, recording an impressive 11% gain in just a day.
The former president’s favorable stance on cryptocurrencies appears to have fueled this upward movement, pushing Bitcoin closer to the highly anticipated $100,000 level.
With the asset up 30% since November 5, both retail and institutional investors are closely watching its trajectory, while related stocks, like Coinbase, have also posted notable gains in recent days.
Bitcoin Surges Beyond $90K Post-Trump Victory
Following Donald Trump’s election win, Bitcoin soared past $90,000, marking an 11% increase in just one day. The former president’s pro-crypto stance has energized Bitcoin’s rise, with the asset up 30% since November 5.
This rally has pushed Bitcoin closer to the anticipated $100,000 milestone, a target eagerly watched by both retail and institutional investors. Cryptocurrency stocks like Coinbase have also experienced sharp gains, with Coinbase shares climbing 75% since the election.
Analysts see this trend as sustainable, particularly if Trump’s policies favor cryptocurrency. The renewed investor confidence surrounding Bitcoin positions it as a valuable asset amidst the economic uncertainty expected under Trump’s administration.
Kiyosaki Plans Bitcoin Buys Up to $100K Mark
“Rich Dad Poor Dad” author Robert Kiyosaki shared his Bitcoin strategy, emphasizing disciplined accumulation over speculative selling.
Kiyosaki, currently holding 73 Bitcoin, plans to continue buying until Bitcoin hits $100,000. He advised investors against chasing quick profits, advocating a systematic buying approach.
Kiyosaki’s comments highlight his view of Bitcoin as a long-term asset, reinforcing the idea that consistent purchasing can strengthen the $100K level as a key price milestone.
His support may contribute to short-term price momentum and promote Bitcoin’s appeal as a stable investment choice.
Dollar Strengthens as BTC Holds Record Levels
Trump’s win has also kept the U.S. dollar near a six-month high, with investors expecting the new administration to pursue tariff cuts and tax reforms.
This has bolstered inflation expectations, pushing U.S. Treasury yields higher. Meanwhile, Bitcoin dipped slightly to $87,105 after briefly touching $89,998 but remains near its peak.
As markets await U.S. inflation data, the Federal Reserve’s rate decisions could impact both the dollar and Bitcoin. Faster-than-expected inflation might add to Bitcoin’s volatility, though the long-term outlook remains positive.
With increasing institutional interest and potentially supportive regulations, Bitcoin’s upward trajectory appears set to continue.
Bitcoin Eyes Breakout Above $89,600 as Bullish Momentum Builds
Bitcoin is trading around $87,700, maintaining its upward momentum but facing resistance near the $89,600 mark. A break above this level could pave the way toward the next resistance at $91,500, with further gains potentially extending to $93,300.
Immediate support lies at $86,000, with additional support levels around $84,700 and $83,200. The 50-day EMA, currently at $83,200, serves as a key trend indicator, providing strong support. The RSI hovers near 62, indicating moderate momentum but leaving room for further buying.
Overall, BTC appears poised for a breakout if it can clear $89,600, though failure to hold above $87,500 might trigger consolidation.
Key Insights:
Resistance at $89,600 may trigger gains toward $91,500 and beyond. Support at $86,000 could cushion potential pullbacks. 50-day EMA at $83,200 reinforces the bullish trend direction.–
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