Bitcoin smashed its previous record to briefly surge past a new peak of $75,000 as Donald Trump is all set to become the 47th President of the United States.

Amidst what is being considered a massive victory for the crypto industry, the Coinbase Premium Index experienced a positive spike, indicating a potential surge in demand for Bitcoin in the US.

Coinbase Premium Index Spikes

The “Coinbase Premium Index” tracks the price difference between Bitcoin on Coinbase – an exchange popular among US users and many institutional investors – and Binance, the largest platform by trading volume.  According to CryptoQuant’s latest update, the index turned positive during Wednesday’s early Asian trading hours, climbing to 0.06 – its highest level since September 14.

The figure has since dropped to 0.04. Nevertheless, such a premium on Coinbase often points to solid buying pressure from US traders and institutional investors, supporting a potentially more sustainable Bitcoin rally.

In its latest note to investors, QCP Capital expressed confidence that Bitcoin’s bullish momentum will remain strong as the market moves into 2025. The digital asset trading firm stated,

“The crypto market has been on fire with BTC hitting an all-time high of 75k after touching its previous record of 73.5k, set back on March 14. Since then, BTC has traded mostly within a tight range below 70k.

Notably, BTC has now navigated three election cycles since its inception in 2009, each followed by rallies to new highs, with prices never dipping back to pre-election levels. We expect this bullish momentum to hold strong as we head into 2025.”

State of Traditional Market Post-Trump Victory

In addition to the Bitcoin rally, Trump’s victory has also impacted traditional markets. QCP Capital revealed that the dollar climbed 1.2%, hitting its highest level since July at 105. Meanwhile, bond yields also rose as markets look forward to stronger economic growth and higher fiscal spending.

The 10-year Treasury yield increased by 15 basis points, and the 2-year yield gained 8 basis points, reflecting rising investor optimism. Despite Trump’s “friendlier” policy proposals, which may reduce the likelihood of rate cuts, the market still anticipates 1.8 cuts this year and three additional cuts next year.

Bitcoin is setting new records, surging past its previous all-time high – and taking the entire crypto market with it.

This latest rally has also brought bullish momentum to the meme coin space.

Dogecoin is back in the spotlight after a sizable push, while newer faces like Flockerz are catching the attention of investors seeking the next big thing.

Bitcoin’s Record-Breaking Surge Tied to Election Day Drama

Bitcoin’s latest surge has a political edge.

It broke past $75,000 overnight as the US election drama reached its peak.

BTC first hit $70,500, then shot to a new all-time high in the early hours.

As Trump’s electoral count began to pull away from Harris’, Bitcoin capitalized on the excitement since most traders view a Trump win as a bullish catalyst.

His comments about crypto at this year’s Bitcoin 2024 conference have boosted his stock in investors’ eyes.

But Bitcoin’s price action isn’t just down to political factors.

Despite an unusual wave of outflows from spot BTC ETFs – totaling $541 million – BlackRock’s IBIT stood out with $38.3 million in inflows.

This mixed institutional behavior has traders bracing for more price swings.

As it stands, the Crypto Fear & Greed Index is at 70 – firmly in “Greed” territory.

But with Trump now officially given the presidential win, there’s every chance this index (and Bitcoin) could rally even higher.

Meme Coins Soar Alongside Bitcoin’s Historic Rally

Meme coins are also benefiting from Bitcoin’s rally.

The total market cap of these coins has surged past $68.1 billion, with trading volumes rocketing 184% to over $20 billion in just 24 hours.

Leading the way is Dogecoin, the OG meme coin, which has spiked 17% to reach $0.202.

That’s DOGE’s highest point in seven months.

With this impressive run, DOGE is now the eighth-largest cryptocurrency in the world, boasting a market cap of over $29 billion.

And it’s not just Dogecoin that’s rallying.

Other popular meme coins, like SHIB and PEPE, are also benefiting from the bullishness.

Crypto Twitter is further fanning the excitement as influential accounts stir up the speculation.

For example, the popular Elon Musk parody account, followed by over 210,000 crypto fans, made a bold call for “memecoins 1000x.”

That’s strengthened the hype around these coins even more.

Is Flockerz the Next Big Meme Coin? Vote-to-Earn Protocol Helps Presale Raise $1.2M

This meme coin frenzy has also created a launchpad for new projects like Flockerz to thrive.

Having already raised over $1.2 million in its presale, Flockerz is attracting investors who are looking for the next meme coin that could explode.

Unlike most meme coins, however, Flockerz focuses on more than just hype.

The team is creating an ecosystem built around utility and active community involvement.

Central to Flockerz’s appeal is its Vote-to-Earn model, which adds actual functionality to holding FLOCK tokens.

Through “Flocktopia,” the project’s DAO platform, token holders can earn additional FLOCK by voting on governance issues.

For example, if the community were to vote on a proposal to adjust staking rates or fund a marketing campaign, participants would receive FLOCK tokens in return for their input.

It’s a way to reward engagement while giving the community an active role.

Flockerz also concentrates on security, passing smart contract audits from Coinsult and SolidProof.

These audits reassure investors that FLOCK’s code is sound.

Combine that with Flockerz’s 1,313% APY staking rewards, and it’s easy to see why so many people are piling into the project’s presale.

Right now, early investors can snag FLOCK tokens for just $0.0059571 each.

That price will increase in less than three days – encouraging would-be investors to get involved as quickly as possible.

All in all, with Dogecoin and Bitcoin both surging, the timing couldn’t be better for Flockerz.

Visit Flockerz Presale

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The crypto market is always primed for action, but important political events kick things up a notch.

With Trump now confirmed as the next US president, certain coins are already seeing big price jumps.

Bitcoin, Solana, and FreeDum Fighters are three standouts – all rallying in the past day.

Bitcoin Smashes All-Time High as Trump Victory Signals New Crypto Era

Bitcoin’s surge past $75,000 came just as the election results began to roll in.

This new all-time high has been widely linked to Trump’s presidential win.

Though Bitcoin’s price has now settled around $73,900, the mood remains strongly bullish – a clear shift from the struggles of last week.

Trump’s campaign promises, including plans for a national BTC reserve and a new SEC chair, seem to have resonated with traders.

And that has pushed trading volumes through the roof.

Dennis Porter, co-founder of the Satoshi Action Fund, was blunt about the impact of Trump’s win.

He said that the “anti-Bitcoin movement” in the US is essentially over.

Let’s be absolutely clear, the anti-Bitcoin movement died last night. The USA will be the most pro-Bitcoin nation in the world. We will have a Bitcoin Strategic Reserve. We will enshrine a national law to defend Bitcoin Rights.

— Dennis Porter (@Dennis_Porter_) November 6, 2024

For crypto traders who have navigated years of regulatory pressure, Trump’s pro-crypto approach feels like a refreshing change.

It suggests that the US might soon become the “crypto capital” of the world, as he promised.

Solana Flips BNB as Trump Win Boosts Spot ETF Hopes

Solana is proving to be another big winner in the post-election rally.

SOL has jumped to $187 and overtaken Binance Coin to secure its spot as the fourth-largest cryptocurrency by market cap.

This 14% surge isn’t just due to random volatility.

It’s a sign of the growing optimism that a spot SOL ETF could finally get approved under the Trump administration.

Trading volumes reflect this optimism, with SOL activity spiking 220% to over $9 billion in the past day.

Analysts are already revising their forecasts, with some even hinting that SOL could rival Ethereum.

Syncracy Capital’s Daniel Cheung thinks the market still hasn’t grasped the potential impact of today’s Trump win.

He believes an ETF approval in early 2025 could push SOL towards $1,000.

His enthusiasm stems from Trump’s pro-crypto outlook and the belief that his administration might take a more relaxed stance on token classification.

Plus, with ETF applications from VanEck and 21Shares already live, the path to approval now seems closer than ever.

And that’s causing the SOL price to soar.

PolitiFi Meme Coin FreeDum Fighters Soars as High-APY Staking App Attracts Investors

Alongside Bitcoin and Solana, another winner in the post-election crypto market is FreeDum Fighters.

FreeDum Fighters is a meme coin that’s tapping into the political buzz with its tongue-in-cheek features.

The project’s presale has raised over $440,000 as investors pile in due to its mix of political parody and passive rewards potential.

This latter aspect is particularly interesting.

FreeDum Fighters has a staking system featuring two fictional characters – MAGATRON and Kamacop 9000 – designed as playful nods to the election’s leading players.

Investors can stake DUM tokens to “back” either of these candidates.

And by doing so, they’ll earn even more DUM tokens in return.

On top of that, FreeDum Fighters will also host weekly debates on social media, with supporters of the winning side earning extra DUM.

It’s a setup that’s been a hit due to the political energy in the market right now.

With Trump’s victory, members of FreeDum Fighters’ Telegram channel believe the project might see even more interest.

Crypto influencer ClayBro believes that will be the case.

He recently suggested that FreeDum Fighters could send politically themed tokens “to the next level.”

Fellow influencer Jacob Bury even predicted the DUM token might pump.

All in all, with Trump back in the White House and the crypto market on fire, FreeDum Fighters seems like it could be on track for an explosive debut.

Visit FreeDum Fighters Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.