Bitcoin hits new high above $86,000 on Trump’s victory hype

Bitcoin just made its fourth new all-time high today, sitting pretty at $86,206 as of press time. The crypto market is now worth over $3 trillion for the first time in history, surging on the back of president Donald Trump’s election victory.

Ethereum also managed to finally break above $3,300 for the first time in way too long. But stablecoins USDT and USDC have depegged from the US dollar, staying around $0.993 each right now.

The stock market wasn’t left behind. Retail traders made up a record 20% of the options market last week, says JPMorgan, marking a jump of about 7% since early 2022.

This surge is even higher than during the retail trading frenzy of 2020, all while the S&P 500 has climbed 26% this year, hitting 50 new all-time highs—the second-highest in seven years. Retail traders’ appetite for risk is at an all-time high, which is the perfect climate for BTC to shine.