Bitcoin Rockets Toward $90K: Musk's DOGE Role and Trump Win Stir Crypto Frenzy

Crypto Prices Today: BTC At $87K, DOGE Up On Musk’s New D.O.G.E. Role

The cryptocurrency market is experiencing significant volatility with Bitcoin (BTC) trading at around $87,469 as reported by CoinGape. Despite a slight dip of 0.5%, the flagship crypto's market cap has reached an impressive $1.73 trillion, driven largely by robust inflows in spot BTC ETFs led by BlackRock and increased attention following Donald Trump's election victory.

Bitcoin Nears $90,000 Amid Market Surge

The Economic Times highlights that Bitcoin is approaching the monumental price point of $90,000 as it surpasses previous pandemic-era peaks. This surge positions Bitcoin as one of the largest assets globally, even overtaking silver in terms of market capitalization, which now stands at approximately $1.7 trillion.

MicroStrategy and Institutional Inflows Propel Bitcoin to New Heights

According to FX Empire, MicroStrategy's recent acquisition of 27,000 Bitcoins worth over $2 billion has significantly contributed to this rally alongside Elon Musk's involvement with Trump’s administration sparking further interest from institutional investors like BlackRock.

XRP Gains Momentum Following Ripple-Trump Meeting Speculations

XRP saw a notable increase after rumors circulated about potential discussions between Ripple executives and President-elect Donald Trump regarding regulatory matters within the crypto space, according to another report from FX Empire.

Trump Victory Fuels Optimism for Crypto Markets

A Bloomberg article discusses how Trump's win has invigorated digital asset markets, leading to record highs for cryptocurrencies such as Bitcoin, which recently surpassed the unprecedented mark of above $88k due to anticipated favorable regulations under his leadership.

Caution Advised As Fear And Greed Index Peaks For Bitcoin Investors

An analysis on FX Empire warns traders about possible corrections given current extreme greed levels indicated by investor sentiment indices, despite ongoing bullish trends pushing prices upwards towards new all-time highs near or beyond previously unimaginable thresholds like reaching up to nearly touching upon ninety thousand dollars per unit value basis alone!

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