Trump’s Victory Drives Crypto Stocks Up

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In the premarket hours, stocks associated with the cryptocurrency market experienced notable gains, with Coinbase seeing a rise of 12% and MicroStrategy climbing 13%, as investors reacted positively to Donald Trump’s election victory.

This resulted in a surge of over 1,312 points, or 3.1%, for Dow Jones Industrial Average futures, as well as gains of 2.12% for S&P 500 futures and 1.53% for Nasdaq 100 futures.

This increase in market prices follows expectations of Trump’s policies, which are believed by many investors to potentially boost economic growth and corporate profits. It also aligns with the anticipation of further rate cuts from the US Federal Reserve.

According to analysts at QCP Capital, despite the expectation for a decrease in rate cut chances due to Trump’s proposed policies, the market still suggests 1.8 cuts this year and three more next year, based on a report released on Wednesday.

The value of the dollar also rose by 1.8%, reaching levels not seen since July, while Treasury yields also saw an increase, reflecting investor confidence in stronger economic growth and possible fiscal spending under a Trump administration.