Bitcoin hits all-time high, crypto market cap at USD $3T
Binance Australia has published the latest report detailing cryptocurrency performance in November, highlighting significant trends and market shifts following the US election.
The report indicated that Bitcoin has hit new all-time highs on five of the last seven days since the US election, and the total cryptocurrency market capitalisation reached USD $3 trillion for the first time since November 2021. This follows a 2.8% rise in the total market cap and a 7.4% increase in Bitcoin during October.
The surge is reportedly driven by a renewed interest from institutional investors, USD $5.5 billion inflows into crypto ETFs, and anticipation surrounding the US presidential election.
Bitcoin’s price rose by nearly 20% following the…
