Bitcoin has surged by 10.5%, reaching a new all-time high of $75,350 following Donald Trump's win in the 2024 election. While the market shows strong foundations for growth, there is moderate optimism reflected in bitcoin derivatives, as the futures premium has risen to 12%. Despite this, there's skepticism due to past price failures to sustain above $72,000, which has made traders cautious. The upcoming US Federal Open Market Committee decision on interest rates adds to this uncertainty, with fears that traditional stock markets may benefit more as a result of Trump’s nationalist policies. Analysts are observing the bitcoin options markets closely, as the options skew returned to a neutral 6%, indicating that traders need time to adjust to the new price levels. The rise of the US 5-year yield challenges the sustainability of US economic growth without considerable monetary policy changes, which could prove bullish for Bitcoin if expansive stimulus is deemed necessary.

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