With investors betting that the incoming Trump administration will be friendly to cryptocurrencies, digital assets saw a massive upward swing following the results of the U.S. presidential election. This brought Bitcoin ( BTC-USD ) to an all-time high above 93K, reaching a market cap of $1.8T. Cryptocurrencies as a whole reached a market cap of $2.9T, surpassing levels seen during 2021, the previous peak of the market. As shown in the chart above, the dynamics of the crypto market have evolved since the 2021 peak, with Bitcoin expanding its dominance in terms of funds invested. In November 2021, Bitcoin made up about 42% of the total crypto market, with Ethereum ( ETH-USD ) making up another 19%. After the latest rally, Bitcoin now makes up 62% of the market. Ethereum ( ETH-USD ), which has yet to return to the levels seen in late 2021, represents about 14% of the market. Bitcoin-related ETFs: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ) and ( EZBC ). More on cryptocurrency Bitcoin's Passing The Baton To Altcoins Bitcoin's Rally: The Tulips Have Done It Again Ethereum: The Alternative For Investors Who Find Bitcoin Expensive MicroStrategy remains most squeezable crypto stock at the end of October Favorable environment for crypto, although with several caution signals
