As Donald Trump headed for victories in the swing states of North Carolina, Georgia, and Pennsylvania, Kamala Harris’ chances of winning were reduced. As a result, US stock futures increased early on Wednesday, and bitcoin surged.
The S&P 500 increased 2.2%, and Dow futures increased 2.84%. It was the highest level of the US dollar index since July.
Cryptocurrencies, regarded as a component of the Trump trade, also experienced a surge. Early on Wednesday morning, Bitcoin reached an all-time high of over $75,000. On Tuesday night, it soared above its previous peak of $74,000. Trump has already expressed his support for cryptocurrencies.
Dogecoin, the erratic cryptocurrency supported by prominent Trump supporter Elon Musk, surged up to 25% on Wednesday compared to Tuesday’s closing price, but those gains have now been reduced to 16%. Since the beginning of the week, the cryptocurrency has increased by about 31 percent.