Donald Trump has claimed victory in the U.S. presidential election, making him the 47th president. His win, which also comes alongside Republican gains in the Senate and potentially the House, signals a shift that is particularly notable for the U.S. crypto industry. Trump’s campaign promises included support for crypto and blockchain, pledging to create a national Bitcoin reserve, encourage U.S.-based mining, and fight against a U.S. central bank digital currency (CBDC). His pro-crypto stance and commitments to self-custody and decentralization rallied significant support within the crypto community, including endorsements from key industry figures like the Winklevoss twins, Ryan Selkis, and Elon Musk. Trump’s stance marks a stark departure from his previous criticism of crypto and promises increased support for the industry during his second term.

Bitcoin Bulls Eye Key Support Levels After Historic $75K Price Spike

Bitcoin has surged to a new all-time high of $75,397, driven in part by speculation around the U.S. presidential election. This election-fueled volatility has analysts focusing on critical support levels that could maintain Bitcoin’s upward momentum. The 200-day simple moving average (SMA) and the short-term holder cost basis (STH-CB) are key metrics, currently sitting around $63,546 and $64,337. However, some analysts caution that this election-based price rally may be short-lived. Experts like Lucky Chart Ape and Keith Alan foresee a potential “dump and pump” scenario, where BTC could retrace to the mid-$60,000s before climbing back toward $70,000. There’s also significant interest in the $70,000 to $75,500 range, though concerns remain about post-election sell-offs impacting Bitcoin’s support levels.

OpenSea 2.0: Revitalization Follows Regulatory Challenges and Volume Decline

NFT marketplace OpenSea announced a new and improved platform set to launch in December, aiming to revive its position amid a stagnant NFT market. OpenSea’s CEO Devin Finzer shared the update, mentioning that this new platform has been rebuilt from the ground up, though additional details are scarce. Users can join a waitlist by connecting a crypto wallet, sparking speculation of a potential airdrop—though this is uncertain due to U.S. regulations. Anticipated new features include smart accounts, enhanced chain integration, and possibly meme coin trading. OpenSea’s trading volume saw a 60% boost this week, hitting $50 million, though this is still far below its $5 billion peak from January 2022. OpenSea also faces regulatory pressure after receiving a Wells notice from the SEC in September, potentially for unregistered securities trading—a move Finzer warns could stifle innovation across the digital art space.

📊 CRYPTO PRICES 7D 💰

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