Bitcoin Soars Amid Prospect of Trump's Potential White House Return

Bitcoin hit a record high in Asian trade, spurred by investor anticipation of Donald Trump's potential White House return. As the election remained too close to call, financial markets moved, reflecting optimism for softer cryptocurrency regulation under Trump. Ether also saw gains but remained below past peaks.

In Asian trade, Bitcoin surged to an unprecedented high as investors speculated on the potential return of Donald Trump to the White House.

The cryptocurrency, the largest of its kind globally, rose by 7% to $75,060, surpassing previous highs set in March. Trump's possible victory is viewed as a catalyst for more lenient cryptocurrency regulation.

Matthew Dibb of Astronaut Capital noted market anticipation of a shift at the U.S. SEC to eliminate barriers to crypto innovation, although a Democrat win was seen as potentially restrictive in the short term.

(With inputs from agencies.)