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Bitcoin (BTC) reached a new record high of $75,000 in the early hours of Wednesday (6), driven by expectations that former President Donald Trump could be gaining an advantage in the US presidential election count. The cryptocurrency rose 9% compared to the previous 24 hours. At around 3:30 am, it was hovering around $74,700.
The cryptocurrency’s surge coincided with early election results that showed Trump winning key states like North Carolina and Georgia, according to NBC News projections. While results in other battleground states remain uncertain, the possibility of Republicans regaining control of the Senate has also fueled optimism among cryptocurrency investors who are seen as supportive of a Republican administration.