US newspaper says Trump won the election, Bitcoin slightly adjusted after setting ATH at 75,400 USD

US newspaper says Trump has a 90% chance of winning the election, the crypto community celebrates, joining the beat with Bitcoin's ATH at 75,400 USD.

The cryptocurrency market on November 6 continuously followed the results of the vote count of the 2024 US presidential election.

As reported in the morning, when the early vote count results showed that the balance was leaning towards Mr. Donald Trump, the price of Bitcoin increased from around 69,000 USD to over 70k, 71k, ... and then broke the 75k mark.

BTC officially set a new ATH around 75,400 USD at around 11 am (Vietnam time). Excitement flooded the market, money flow from Bitcoin shifted to Altcoin, pushing the price of "everything" skyrocket.
This push seems to "unchain" Altcoins to fly strongly, after a long period of "holding our breath" waiting for the election results, as well as being "squeezed" because Bitcoin Dominance reached a 3-year peak.

ETH, on the contrary, is quite "sluggish". Although it is the second coin in the market, it only increased "modestly" about 7% in 24 hours, after reaching a high of 2,640 USD, it has now slightly decreased to around 2,570 USD.
At 03:50 PM on November 6, Mr. Trump only has 3 more electoral votes to officially become the 47th President of the United States. Currently, there are only 2 states that have not yet had final results, Michigan and Wisconsin, with Mr. Trump leading Ms. Harris 267-224.

The US media also began to report on the billionaire's victory, and many heads of state around the world sent him congratulations.

🚨NEW: Trump's full victory speech pic.twitter.com/RcQek9IOnn

— Autism Capital 🧩 (@AutismCapital) November 6, 2024
Fox News predicts that Mr. Trump will win Pennsylvania, the third battleground state, reaching the minimum 270 electoral votes needed to win the election.

In line with the historic victory, the crypto community has begun to recall the crypto policies that Trump promised during the campaign. The most prominent of which is the statement "fire Gensler on day one".

More broadly, under Mr. Trump, the crypto legal environment is expected to be less harsh and unreasonable. This will open up many opportunities for startups and blockchain companies to operate and develop in the US market.

Next, people also hope that a third crypto ETF will be approved, most likely the Solana ETF. Recall that under Gensler, the SEC forced the withdrawal of Solana ETF proposals because it still considered SOL a security.

Possible second order effects from Trump's win:

• BTC becomes a US strategic reserve asset
• New regulatory regime will make it much easier for tokens to capture value from their protocols
• Token classification framework could shift from "most tokens are securities" to… pic.twitter.com/Yar5Lk1yuG

— Aylo (@alpha_pls) November 6, 2024