Bitcoin Hits Record High Near $90K, Dogecoin Surges on Trump-Driven Hype

Bitcoin soared to a record high near $90,000 on Tuesday, driven by optimism over friendlier U.S. crypto regulations under President-elect Donald Trump. The cryptocurrency has rallied steadily since Trump’s election victory last week, with his campaign’s promises to support crypto-friendly policies and establish a national Bitcoin reserve fueling investor confidence.

Major altcoins followed suit, with Dogecoin leading gains among alternative cryptocurrencies, surging nearly 42% on speculation that Elon Musk might join Trump’s administration. Bitcoin traded at $88,313.1 as of early Tuesday, having reached an all-time high of $89,436.1 earlier in the session. Despite a stronger dollar and broader market volatility, Bitcoin’s strength persisted, reflecting expectations of increased institutional interest in digital assets.

Meanwhile, crypto ETFs saw record inflows, with Blackrock’s iShares Bitcoin Trust surpassing its gold counterpart in total assets. The rally extended to other top cryptos, with Ether, XRP, SOL, MATIC, and ADA all posting gains between 1.9% and 5.6%.