Bitcoin and Ethereum rally as Trump election victory fuels largest monthly gains since February

Bitcoin and Ethereum are on observe to publish their most important month-to-month good points since February, fueled by market optimism following Donald Trump’s election win.

Knowledge from CoinGlass highlights November as one among Bitcoin’s strongest months this 12 months. The flagship crypto has surged over 38%, marking its second-best month-to-month efficiency in 2024 after February’s 44% rise. This rally has pushed Bitcoin close to the $100,000 landmark and cemented its standing within the broader monetary trade.

Bitcoin Month-to-month Returns (Supply: CoinGlass)

Ethereum has additionally mirrored Bitcoin’s upward momentum. The second-largest crypto has jumped by 42% this month, pushing its value above $3,500.

Ethereum Monthly Returns — Ethereum Month-to-month Returns (Supply: CoinGlass)

In the meantime, Bitcoin and Ethereum may nonetheless exceed their February milestones as two days stay in November.

Market analysts have attributed these good points to Trump’s election victory on Nov. 5. His pro-crypto insurance policies and appointments have bolstered investor confidence, driving expectations of continued progress for cryptocurrencies and associated markets within the US.

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