Bitcoin Hits $77,000, Surging to a New All-Time High

After recently reaching a new all-time high, Bitcoin doesn't seem to be losing momentum and continues to surge.

The latest achievement is breaking the $77,000 level after surgin by around 0.3% on the daily chart and 10.8% in the past 7 days.

This places Bitcoin as the 9th most valuable asset in the world with $1.52 market cap – just shy of the 2nd largest commodity, silver.

Bitcoin’s extraordinary uptick started on the day of the elections in the U.S. an quickly spreadout to other cryptocurrencies.

During the past 24 hours $264.47 million were liquidated from the crypto market – $136.36 million being long positons and $128.13 million in shorts. Bitcoin accounted for $64.07 million of these positions.

Investors are feeling the bullish hype after Donald Trump was announced the winner of the 2024 presidential race and pro-crypto candidates succeded in securing the seats at the Senate.

This is expected to bring crypto-friendly legislation to the U.S., which could propel the prices even further.