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Bitcoin experienced a substantial rally, posting a massive 9% increase in a single day after the announcement that Donald Trump had won the U.S. presidential election. The crypto market surged in response, with certain altcoins seeing gains as high as 60%—notably, GRASS was one of the top performers.
Despite the strong move, some pullback should be expected as BTC consolidates its recent gains. This initial surge aligns with Trump’s proposed crypto policies, which include potential regulatory clarity and support for the industry. Key elements like the removal of SEC Chair Gary Gensler, a proposed Bitcoin reserve, and promoting Bitcoin mining have reignited market optimism.Bitcoin’s dominance decreased by 1.18% following its sharp rise, signaling a brief window for altcoins to react.
ETH dominance has been signaling a turnaround as well, fueled by expectations that Trump’s administration will deliver regulatory clarity. ETH has been heavily oversold for months and is now showing signs of recovery. BVOL7D, an indicator tracking Bitcoin’s volatility, surged 19% and moved above the daily TBO Cloud, with overbought RSI suggesting that BTC will continue to experience significant price swings over the next week. This could mean continued pressure on altcoins as Bitcoin takes the spotlight.In traditional finance, the DXY broke out above long-term resistance, driven by expectations that Trump’s pro-economy stance will strengthen the U.S. dollar.
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