Crypto Market Today (Nov 6th, 2024): U.S Election Result to Push Bitcoin to New ATH?

The post Crypto Market Today (Nov 6th, 2024): U.S Election Result to Push Bitcoin to New ATH? appeared first on Coinpedia Fintech News

Donald Trump’s recent win in the U.S. election has got the crypto market buzzing with greener candles on the charts. As a result, the market sentiments have turned to “Greed” from “Neutral” in just a few hours. The market cap of the industry has recorded a notable rise of 7.41% in 24 hours to $2.46 Trillion. Meanwhile, the intraday trading volumes have surged to $192.7 billion, up an astonishing 128.03%. Amidst heightened optimism, investors are now keen on the Federal Reserve’s rate cut scheduled for next week.

Bitcoin Rallies as Sentiment Shifts to Greed

Bitcoin price has seen an impressive upswing, which has landed its price at $74,335.25 after claiming a new ATH. Following the healthy move, the trading volume has seen a substantial boost rising by 145.75%. Analysts are now contemplating the possibility of BTC’s price closing in November with a price tag of $80k.

For more on Bitcoin’s potential path forward, check out our latest Bitcoin Price Prediction.

Ethereum, Solana, and XRP Rise Alongside BTC

The largest altcoin, Ethereum has followed the suit of Bitcoin in terms of price trend. Successively, its price has shot up 7.98% to $2,632.54. In the meantime, Solana has outperformed major rivals, soaring 14.31% to $185.40, driven by the community’s interest in high-performance blockchains. XRP too was not left behind, as it rose 4.83% to $0.535. 

For a deep dive into Ethereum’s outlook, our Ethereum Price Prediction provides insights into ETH’s potential movements.

Top Gainers Today: GOAT, NEIRO, and Uniswap Lead the Charge

Among the top 100 coins, GOAT has emerged as the top gainer, jumping by 47.50% to $0.719. NEIRO and Uniswap also saw impressive gains, climbing 32.58% and 31.88%, respectively, as investors flock to assets with strong potential in the current market.

Stay tuned for more crypto news as the market dynamics continue to evolve amidst this new political landscape and expectations for policy shifts in the U.S.