Bitcoin’s recent leap above $81,800, fueled by pro-Bitcoin policies from the newly elected U.S. President Donald Trump, has ignited a powerful rally across the crypto market. With notable gains seen in both Dogecoin and Ethereum, the crypto space is buzzing with investor interest. The market’s growth potential appears stronger than ever as Bitcoin’s price continues to climb, currently trading around $81,400. This impressive momentum follows Trump’s election as the 47th President of the United States, further driving global enthusiasm.
Bitcoin and Altcoins Rally Strongly
Bitcoin saw an approximate 8% increase over the weekend, breaching $81,000 with a record-breaking surge in trading volume. This past week, Bitcoin’s value has climbed by 18%, with many experts predicting further gains. Ethereum has also risen 30%, reaching $3,200, while Solana (SOL) posted a 28% increase, pushing its market cap above $100 billion.
Dogecoin Steals the Show with Massive Gains
Dogecoin (DOGE) has been the standout performer, surging over 95% in the past week and gaining nearly 30% in the last 24 hours alone. Backed by frequent endorsements from Elon Musk, the meme coin has overtaken USDC in market capitalization, ranking as the sixth-largest cryptocurrency. DOGE is currently trading at $0.2773, marking an impressive 22.5% rise. With a market cap of $40.72 billion and a 24-hour trading volume exceeding $20 billion, Dogecoin’s demand and speculative interest remain high.
A Supportive Pro-Crypto Administration
Though decentralized, Bitcoin’s price is still influenced by global policies, especially from powerful nations like the U.S. During his campaign, Trump portrayed himself as a pro-Bitcoin leader, pledging policies beneficial to U.S.-based crypto miners and entering the NFT market, which further spurred optimism among investors. This move is widely seen as positive for the future of the sector.
Elon Musk, a longtime advocate for cryptocurrencies, continues to bolster Dogecoin’s popularity. With Tesla actively investing in Bitcoin and Musk’s vocal support for DOGE, expectations are high for a potential role for Musk in shaping crypto policies within the White House.
The recent excitement in the crypto market signals a promising future, with Bitcoin and other cryptocurrencies likely to be influenced by government policies, global economic developments, and rising tech adoption in the months to come.
