Post-Election Déjà Vu: Bitcoin Spikes to a New Record High, While Ether and Solana Rally Ahead of FOMC
Bitcoin (BTC) reached a new all-time high of $76,600, up 2.3% in 24 hours, following Donald Trump's election victory and expectations of a 0.25% interest rate cut by the Federal Reserve. The previous record was $76,480, set less than a day earlier. The CoinDesk 20 index of top cryptocurrencies rose 4.3%, with Ethereum (ETH) increasing 8% to nearly $2,870. Other notable performers include Cardano's ADA, up 10.4%, and Polygon's POL, up 6.6%. Solana (SOL) is trading at $195, nearing its 2021 all-time high. Bitcoin mining firm Core Scientific (CORZ) surged over 11% after discussing AI ambitions, while MicroStrategy (MSTR) gained 5.8%. Coinbase (COIN) saw a modest increase of 1.1% after a significant rise the previous day. The upcoming FOMC decision may impact digital asset markets, with potential volatility expected from Fed Chair Jerome Powell's press conference.
