Bitcoin reached a new all-time high of $75,100 early Wednesday, marking another historic moment for the cryptocurrency. Positive market cues over the last 24 hours supported the rise despite a generally bearish week.
This latest ATH comes amid the ongoing US elections, as investors await the results. Former President Donald Trump appears favored by the American public.
On the prediction platform Polymarket, the odds of Trump vs. Harris sharply increased. Trump’s odds of winning surged from 58% to 93.3%. Cumulative bets on both candidates reached $2.3 billion, with Trump leading at $1.41 billion.
Read More: What is Polymarket? A Guide to The Popular Prediction Market
US Election Showdown Donald Trump vs. Kamala Harris. Source: Polymarket
Fueled by this anticipation, Bitcoin recorded a 7% increase today. After bouncing from the $68,248 support level, BTC could now stabilize around $73,773 or $71,367, should profits be taken.
A steeper pullback, however, could erase today’s gains. Yet, Bitcoin’s new all-time high at $75,100 is now established.
Bitcoin Price Analysis. Source: TradingView
The post Bitcoin Price Sets New All-Time High at $75,100 as US Election Results Favor Trump appeared first on BeInCrypto.