On November 8, 2024, Bitcoin (BTC) entered a price discovery phase after reaching a new all-time high of over $76,900 earlier that day. Over the past 24 hours, BTC saw a 1.7% increase, currently trading at approximately $76,158. The broader cryptocurrency market experienced a growth of about 4%, significantly influenced by Cardano's ADA, which surged 16%, and Solana’s SOL, breaking $200 for the first time since March with an 8.75% increase. BTC's growth is attributed to President-elect Trump's victory and the anticipated 25 basis-point interest rate cut from the Federal Reserve. Analysts suggest a brief consolidation period may occur before BTC could potentially rise to between $100,000 and $110,000 in the next couple of months. In addition, Bitcoin ETFs witnessed record inflows, with BlackRock’s IBIT attracting over $1.1 billion in net inflows following Trump's election, boosting overall confidence in the sector. Ether (ETH) also gained momentum, rising over 10% on optimism surrounding pro-crypto policies under Trump’s administration.

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