Key Points
- Bitcoin reached a record high of over $75K as U.S. presidential election results rolled in.
- 98% of Bitcoin holders were in profit at this level, according to data from Glassnode.
Bitcoin’s value surged to a record high of over $75,000 as the U.S. presidential election results were announced.
Many crypto investors predicted that a win for Donald Trump could trigger a rally in Bitcoin.
Bitcoin’s Remarkable Level
Even before the election results were announced, Bitcoin had smashed through the $75,000 barrier and stabilized around $73,589.
At this remarkable level, data from Glassnode showed that 98% of Bitcoin holders were seeing profits.
Trump’s Early Victory
After a close race, Trump celebrated a near-win in Florida. He was also projected to win the crucial battleground states of Pennsylvania, North Carolina, and Georgia.
The Associated Press (AP) later projected Trump as the winner of Wisconsin.
According to the latest projections from the AP, Trump held 277 electoral college votes compared to 224 for his Democratic opponent, Kamala Harris. With 270 votes required to secure victory, Trump has secured the Oval Office, becoming the POTUS.