Bitcoin surged to a new all-time high just above $73,000, gaining 7.5% in 24 hours amid favorable election results for Republican candidate Donald Trump. Trump's odds of winning the U.S. presidency have increased to 85% on betting platform Polymarket, heightening bullish sentiment in the crypto market. The spike in Bitcoin's price was partly fueled by a $94 million liquidation of bearish positions against it. Meanwhile, Dogecoin (DOGE) experienced a 17% surge and marked over 65% gains in the past 30 days, benefitting from renewed endorsements by Elon Musk. DOGE futures saw over $30 million in short liquidations in 24 hours, indicating strong demand. Other dog-themed tokens also rose, reflecting increased market interest. Early voting trends showed Trump leading in key states, potentially impacting the regulatory landscape for cryptocurrencies, which traders find favorable compared to his opponent Kamala Harris.

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