On November 6, the Republican presidential nominee, Donald Trump, won the United States elections, becoming the country’s 47th president. His victory triggered all forms of reaction across several financial assets as market participants rejoiced or expressed disappointment in the election outcome.that the crypto and equities markets became charged with positive momentum as soon as the election results were released, while other groups of assets showed little to no optimism.
On the other hand, gold and silver, considered safe-haven assets, went in the opposite direction from BTC and the S&P 500, falling roughly 5%. Santiment said this price movement could cause investors to move their funds from precious metals to risk assets like crypto. “The increase in market confidence appears to be triggering comfort from investors that they can profitably move money away from precious metals and into optimistic, speculative assets like cryptocurrency for the time being,” the analytic firm stated.While Trump’s victory triggered positive movement in the prices of financial assets, the crypto market, in particular, is bullish about the landmark win because of the president’s favorable stance.
Over the past years, U.S. authorities have battled with entities in the crypto space, including exchanges and decentralized platforms, with the country’s securities agency allegedly attempting to regulate the industry through enforcement. During his campaign, Trumpof the new regime in 2025, BTC is expected to register more gains as the second phase of the bull market kicks into full gear.
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