Gold Surges to New Highs as Bitcoin Rallies Post-Trump Election

Pro-crypto Donald Trump won the U.S. presidential election, leading to market turbulence amid global uncertainties. Key points include:

Bitcoin surged over 23% since November 5, reaching an all-time high of $109K before a 30% decline.
Strategy (MSTR), often seen as a bitcoin proxy, gained 34% despite dropping 60% from its November highs.
Ethereum's ether token fell by 18%, with the Valkyrie Bitcoin Mining ETF down nearly 30%.
Bitcoin’s dominance rate increased by 2% to over 61% as investors shifted funds into BTC.
European equities outperformed U.S. stocks; the German DAX is up 20%, while the Nasdaq and S&P 500 are down about 2%.
Gold set new all-time highs above $3,030, marking an 11% increase amid uncertainty.
The U.S. Dollar Index remains flat, but the dollar has weakened significantly, aiding risk assets.
The U.S. 10-year Treasury yield declined to 4.2%; oil prices dropped around 7% due to energy policies.
Some major stocks, like NVIDIA and Tesla, have faced notable declines.

Market Outlook

The recent market losses have sparked speculation about potential policy support known as the "Trump put." However, the administration appears willing to accept short-term pain for long-term benefits, aiming for lower inflation and improved energy security. CEO of Bitget, Gracy Chen, suggested a controlled downturn may be ahead, indicating a strategy that could place blame on previous administrations while promoting lower interest rates for tech growth. Chen forecasts BTC will not fall below $70K, predicting it could reach $200K in 1-2 years.