Trump’s Election Win Aftermath
Bitcoin’s recent price rally came after Donald Trump’s victory in the 2024 U.S. presidential election. The rally attracted major inflows into digital assets, with the OG cryptocurrency alone pulling in $1.8 billion, according to CoinShares’ Digital Asset Fund Flows weekly report.

The rally extended beyond Bitcoin, with Ethereum gaining $157 million in inflows and notable activity among altcoins like Solana, Uniswap, XRP, and Tron.

Overall, the total cryptocurrency market capitalization reached a new all-time high of $3.12 trillion in early Asian trading on Tuesday, Nov. 12. This surpassed the previous record of $3.08 trillion set nearly three years ago in November 2021.