Bitcoin broke above $80K for the first time in history yesterday after Donald Trump’s reelection, and has now exceeded the $82K mark.
The market leader’s performance has given altcoins a tailwind, with prices surging across the board.
Bitcoin’s fundamentals look unshakeable right now.
That’s reflected in its price, which is the highest it has ever been: $82,045. It’s up 3% today, 18% this week, and 30% this month.
How did we get here? It all started last week when Trump was elected US president. His pro-crypto approach made him a favourite with market participants, so BTC started to rally as it became more apparent that he would take office.
Moreover, along with Trump’s win, the US congressional election heavily favoured pro-crypto candidates.
Policy amid the next presidential term will be a boon for the industry, removing the significant regulatory headwind that crypto has faced in recent years.
But it’s not just that. On 7 November, the Federal Reserve cut interest rates by 25 basis points, dropping the target rate to 4.50-4.75%.
Lower rates make risk-on assets more appealing. This is why Bitcoin’s price rallied after September’s rate cut, and it seems history is repeating.
Adding fuel to the fire, the spotlight is once again on the prosal for a US government strategic Bitcoin reserve, which will see them purchase 1 million BTC over a 5-year window. Today’s price, that’d be worth $81 billion.
The idea was put forth in a bill by Senator Lummis, and it suggests buying 200K BTC per year.
The outlook for Bitcoin is arguably the best it’s ever been. The US government is leading by example. We will likely see many others follow suit.
But as Bitcoin rises, altcoins are producing even higher gains. While BTC has soared 17.6% this week, meme coins like First Neiro On Ethereum and Dogecoin are up 101% and 89%, respectively.
Meanwhile, the new meme coin Pepe Unchained is generating huge demand in its presale, having raised $26.4 million. Is this next to explode?
The interest in Pepe Unchained is well-earned.
The project is raising funds to build the world’s first Ethereum layer 2 blockchain for meme coins. Imagine connecting your wallet to a network, and then everything on there is a meme coin or meme coin-related app.
NEIRO and DOGE have shown how quickly meme coins can explode, so there would undoubtedly be tons of opportunities on Pepe Unchained. But that’s not all.
They’re not just building a blockchain. They’re building an entire ecosystem. Pepe Unchained will launch ready-to-use, equipped with staking, a block explorer, a dedicated Ethereum bridge, a decentralized exchange, and more.
However, they recently made their biggest announcement yet: Pepe Pump Pad. It’s their version of Solana’s Pump.fun, allowing anyone to launch a meme coin in minutes without coding.
This will ensure a vibrant ecosystem with lots of activity.
Analysts are going wild over it. Austin Hilton says it is “Going to be massive.”
Moreover, he hailed it as “the largest meme coin presale ever” and said, “I’m at least going to 2x or 3x my money.”
Currently, investors can buy $PEPU for $0.01249, but this price will rise throughout the ICO.
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