On the campaign trail, Mr. Trump has promised to end the regulatory push and establish the United States as the “crypto capital of the planet.” Before the election, analysts predicted that a Trump victory could send Bitcoin to $80,000 or $90,000.

Cryptocurrencies were higher Tuesday evening as investors waited for direction on the potential outcome of the U.S. presidential election.The price of bitcoin was last higher by more than 5% at $71,178.

Bitcoin just topped its previous peak price from March in the latest surge amid strong ETF demand and a crypto-tinged U.S.

The dollar rallied broadly on Wednesday and bitcoin jumped to an all-time high as investors returned to so-called "Trump trades" with initial results trickling in for an extremely close U.S. presidential election.

Bitcoin approached a record as traders around the world watched results trickle in from a US presidential election that pits digital-asset supporter Donald Trump against Kamala Harris, who served as vice president during a government crackdown on the industry.

Bitcoin broke its all-time high on election night as traders became increasingly convinced that former President Donald Trump would win the presidency. Bitcoin rose about 9.4% to nearly $75,000 on Tuesday night after election returns showed Trump outperforming expectations.

The dollar surged and bitcoin hit a record high Wednesday while equity markets advanced as traders bet on a victory for Donald Trump as early results for the US presidential