Crypto price update: huge gains with Bitcoin and Ethereum – this is what needs to happen now

The crypto market is going like a train today. Bitcoin (BTC), Ethereum (ETH) and basically all other coins are achieving great results, while the US elections are not exactly working in favor of the industry.

In this course update, we will talk to you in full.

Last night, Bitcoin initially dived to its lowest level since mid-September, but the price has already risen by 7 percent since then.

Although crypto fan Donald Trump will of course remain in the White House, his Republican Party has a sledgehammer to deal with. The Democrats have achieved a majority in both the House of Representatives and the Senate, making it harder for the president to govern.

That is not what the crypto market had hoped for, but this result was already coming. And that is precisely why prices are now rising so fast. Investors have long feared for exactly this outcome, and that uncertainty has disappeared from the market. That's also why Wall Street is soaring.

The bad news had already been incorporated into the prices, and now investors can look forward again. And it's not all that bad: the CLARITY Act was already deadlocked anyway, the regulators can just continue to draw up crypto rules and Trump already mainly steered his crypto policy through presidential decrees.

Bitcoin hit a low of $75,600 last night around 4am, and about twelve hours later, it hit its highest point since last Thursday at $81,000.

Today, however, the markets are getting a lot of support from the falling oil price. Brent oil is down nearly 10 percent for several reasons: Trump has said he has “no immediate plan” to attack Iran and Qatar is continuing negotiations. Vice President J.D. Vance has also admitted that the Iran war has been a major reason for the Republicans' defeat.

Thanks to the rally, Bitcoin is back to the important resistance above $80,000 in one fell swoop. At the same time, the RSI is issuing a warning: Bitcoin is still below last week's peak, while the momentum indicator is already higher. $81,400 is now the level to break.

At the time of writing, the BTC price is at $80,360, 3.61 percent higher than 24 hours ago. 71,571 euros are now paid for the largest crypto.

Ethereum has even surpassed Bitcoin with an increase of about 10 percent since last night. Currently, the altcoin king is going around for 2,427 dollars, which is 5.77 percent more than yesterday.

Ripple (XRP) is up 2.27 percent, Solana (SOL) 2.71 percent and Dogecoin (DOGE) 2.12 percent. Privacy currency Zcash (Zec) is the fastest-growing in the top 20 with a profit of 7.10 percent.

Below are the biggest top 100 risers of the past 24 hours:

Cryptocurrencies linked to Trump himself are not participating in the party today. That's because the message is already circulating that the Democrats want to start an investigation into the projects.

Below are the biggest top 100 decreasers of the past 24 hours: