Bitcoin (BTC-USD) prices have rallied to over $83,000 since President-elect Donald Trump’s victory in the 2024 US election. Many investors view his administration’s return to the White House as a bullish signal for the cryptocurrency market. CoinDesk Indices Managing Director Andy Baehr joins Catalysts to share his outlook on this trend and the rationale behind it. Baehr characterizes a Trump presidency as “the last piece of the puzzle” for bitcoin. He points to the recent approvals of bitcoin ETFs and the Federal Reserve’s easing cycle as precursors, noting that the election outcome has now made “very clear” the prospects for regulatory reform and positive legislation across the crypto industry. “For bitcoin, in particular, all lights are green right now,” Baehr states. He explains that with bitcoin adoption still growing, there is significant momentum yet to be seen for the leading cryptocurrency. Baehr also highlights Trump’s continued vocal interest in bitcoin, saying “Just that kind of repeating chorus, that this is something interesting will bring a lot of people in.”
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