 Bitcoin eyes $77K as investor confidence spikes post-US election 
2024-11-08

Bitcoin is flirting with the $77,000 mark, as Donald Trump’s victory inspired a new wave of bullish inflows into Bitcoin-related products, driven by expectations of improving economic policy in the United States.
The Bitcoin BTCUSD price nearly broke above $77,000 on Nov. 8, two days after Trump was declared the winner of the US election, inspiring a new wave of investor appetite for risk-on assets.
According to a Nov. 8 research note from trading firm QCP Capital, investor optimism around a Republican presidential win could push Bitcoin past $77,000. QCP wrote:
Bitcoin rose to an all-time high of $76,999 at 8:15 pm UTC on Nov. 7, Cointelegraph data shows.

Continued inflows into spot Bitcoin exchange-traded funds (ETFs) could push BTC to a new all-time high, according to historical patterns observed in previous bull markets following Bitcoin’s halving events. The post-halving bull market is expected to last through the third quarter of 2025.
Bitget Research’s chief analyst, Ryan Lee, expects Bitcoin to breach $100,000 before the end of 2024.
Bitcoin to overtake other risk assets on China tariff fears?
Bitcoin could outperform other risk-on assets like gold and traditional equities.
This is partly because of Trump’s expected 60% tariff on China, according to QCP’s research note, which explained:
Trump has proposed a 60% tariff on Chinese imports, a significant increase from the 7.5% to 25% rates during his first term.
Record inflows for Bitcoin ETFs post-election
Spot Bitcoin ETF inflows recorded a new all-time high in net inflows on the day after Trump’s victory.
The US spot Bitcoin ETFs saw over $1.37 billion worth of cumulative net inflows on Nov. 7, Farside Investors data shows.
The post-election investor optimism could lead to increasingly more spot and ETF buying, according to QCP Capital, which noted:
Improving risk asset appetite could also propel the Ether (ETH) price to a breakout above $3,200 in the short term, partly driven by positive Ether ETF inflows, analysts told Cointelegraph.