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Bitcoin has reached a new milestone after crossing above $80,000 over the weekend.

 

This is the first time Bitcoin will reach $80,000.

 

This followed Donald Trump's victory in last week's US election.

 

Recall that Bitcoin (BTCUSD) recently traded around $79,700, up about 4% over the past 24 hours and still in the neighborhood of record levels.

 

The expectation that a second Trump administration and a new Congress thought to be friendlier to the industry has lifted both bitcoin and other assets in the sector, with investors lately pouring money into instruments like spot bitcoin exchange-traded funds.

 

The rise has boosted the estimated market cap of crypto broadly, with the figure recently above $2.7 trillion, according to CoinMarketCap.