New York/IBNS: Bitcoin extended its bullish run on Friday (Nov. 22), reaching a record high of $99,300, edging closer to the much-anticipated $100,000 mark.
During Asian trading hours, the leading cryptocurrency was valued at $99,314.95, marking a 4 percent gain over the past 24 hours.
Bitcoins market capitalisation has also surged to $1.97 trillion, nearing the $2 trillion milestone.
The rally has been driven by a combination of factors, including a 9 percent increase in trading volume, which reached $95.84 billion.
Bitcoin has soared over 48 percent since the announcement of the US election results, which saw Donald Trump, a vocal supporter of cryptocurrencies, secure victory.
Trumps pro-crypto stance, alongside endorsements from influential figures like Elon Musk, has strengthened positive market sentiment.
The broader cryptocurrency market has also experienced a surge in activity, with trading volumes jumping by nearly 25 percent to $244.41 billion.
Although Bitcoins market dominance has slightly declined to just below 60 percent, other cryptocurrencies, including Ethereum, Solana, and XRP, have seen significant gains, with some surging as much as 25 percent in a single day.
As Bitcoin maintains its upward trajectory and altcoins continue to rise, all eyes are now on whether the flagship cryptocurrency can surpass the $100,000 threshold.
