Bitcoin Hits Record Highs Post-Trump Election

Bitcoin briefly reached a record high above significant levels on Sunday evening, continuing its impressive gains after Donald Trump was elected as the U.S. president, igniting hopes for more favorable crypto regulations.

Bitcoin rose nearly 6% to a record high of $81,373.5, before settling around $80,362.9 by 18:16 ET (23:15 GMT).

The world's largest cryptocurrency, along with the broader crypto markets, has experienced a surge since Trump's election victory last week. The president-elect pledged to make the U.S. the "crypto capital" of the world.

Bitcoin has surged about 10% over the past week, currently trading up 91% in 2024.

World's second-largest cryptocurrency, Ether, also gained 1.8%, rising to $3,190.0, marking a three-month high.