Bitcoin is hitting new records after Trump’s victory. The new president is announcing pro‑cryptocurrency regulations, and the Fed is cutting rates.
As of yesterday, Donald Trump returns to the White House after a four-year absence. The election results (295:226 electoral votes) indicate a clear political mandate.
The cryptocurrency market has responded with significant gains: Bitcoin has reached a new all-time high (ATH), while Ethereum has approached the $2,900 level - a breakthrough at this resistance could represent a turning point for this asset class.
During his campaign, Trump pledged several initiatives favorable to the cryptocurrency sector. Investors interpret these commitments as potentially beneficial for the future regulatory environment.
Notably, the Republican Party has maintained its majority in the House of Representatives and secured a majority in the Senate, which may facilitate the passage of proposed legislative changes.
Source: Cointelegraph
Senator Elizabeth Warren, known for her critical stance on the cryptocurrency sector, has retained her Senate seat in Massachusetts. She will remain in the Senate despite Democrats losing their majority in the upper chamber of Congress. In the election, she defeated Ripple attorney John Deaton.
Senator Warren's continued presence in the Senate means that a critical voice regarding cryptocurrency will remain influential in the legislative process, regardless of shifts in the political balance of power.
Source: The New York Times
Union Bank of Switzerland (UBS), one of the world's leading global banks, is introducing a tokenized money market fund based on the Ethereum network. The fund will operate under the name UBS USD Money Market Investment Fund Token (uMINT).
Thomas Kaegi from UBS APAC commented: "We are observing growing institutional investor appetite for tokenized financial assets." This initiative signals a shift in how traditional financial institutions perceive cryptocurrencies and tokenization, indicating potential for long-term adoption growth.
Source: UBS
The Federal Reserve confirms its continued commitment to interest rate reduction policy. On November 7, the central bank lowered rates by an additional 25 basis points. Expansionary monetary policy increases liquidity across financial markets, which traditionally supports gains in alternative markets, including cryptocurrencies.
The combination of a potentially favorable regulatory environment, institutional interest, and expansionary monetary policy suggests the cryptocurrency market is entering a phase potentially conducive to growth in adoption and asset valuations.
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