The cryptocurrency market made history on November 10 as Bitcoin surged past the $80,000 milestone for the first time, peaking at **$80,200 per BTC**. This unprecedented rally marked a major turning point in digital asset adoption and investor sentiment, driven by shifting geopolitical dynamics and growing institutional confidence.
Within 24 hours, Bitcoin climbed over 4%, while other major cryptocurrencies followed suit: Ethereum rose more than 5%, Dogecoin jumped over 18%, and Cardano (ADA) soared by 40.07%. The broad-based rally signaled strong market momentum across the crypto ecosystem.
👉 Discover how global policy shifts are fueling the next wave of crypto growth.
Market Volatility Triggers Massive Liquidations
Despite the bullish breakout, extreme price movements led to significant trader losses. According to Coinglass data, over 141,600 traders were liquidated within 24 hours, with total liquidation volume reaching $430 million**. Of this, **$315 million came from short liquidations, indicating that bearish bets were heavily crushed by the sudden upward momentum. Long positions accounted for $115 million in forced exits, reflecting some over-leveraged bulls caught off guard during rapid swings.
Such large-scale liquidations underscore the risks of leveraged trading during high-volatility events. As prices swing dramatically, margin calls can trigger cascading sell-offs or squeezes—especially when markets move sharply against dominant sentiment.
Trump Effect: Catalyst Behind the Crypto Rally?
Analysts point to the recent U.S. election outcome as a key driver behind Bitcoin’s surge. President-elect Donald Trump’s pro-crypto stance has reignited optimism about regulatory clarity and mainstream adoption.
Trump has consistently voiced support for digital assets during his campaign, promising several transformative policies:
- Dismissal of SEC Chair Gary Gensler
- Creation of a strategic national Bitcoin reserve
- Positioning the U.S. as a global "Bitcoin superpower"
- Advocating for lighter regulation on blockchain innovation
These proposals have resonated strongly with investors who view them as a potential catalyst for long-term price appreciation and institutional inflows.
Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, forecasts that Bitcoin could reach $125,000 by the end of 2024** and climb to **$200,000 by the end of 2025 under a Trump administration. He attributes this bullish outlook to anticipated pro-innovation policies and increased government-backed demand.
Weng Xiaoqi, CEO of HashKey Exchange, emphasized that Trump is the first U.S. president to actively embrace crypto during his campaign. His advocacy could accelerate adoption among traditional industries and skeptical investor groups, creating a ripple effect across global Web3 development.
"Trump’s position isn’t just about U.S. policy—it’s reshaping the global race for blockchain leadership," said Weng.
How U.S. Energy Policy Could Impact Oil Markets
While crypto markets celebrated, traditional energy markets faced uncertainty. Crude oil prices fluctuated last week amid conflicting signals from expected U.S. policy changes under the incoming administration.
OPEC+ extended its voluntary production cut of 2.2 million barrels per day until December 2024, supporting prices early in the week. However, Friday saw a pullback as traders assessed Trump’s energy agenda.
Conflicting Forces: What Lies Ahead for Oil?
Trump's platform includes measures that are largely bearish for oil:
- Relaxing environmental regulations
- Boosting domestic oil and gas production
- Expanding fossil fuel exports
These policies could increase global supply and weigh on prices. During his first term (2017–2021), Brent crude averaged between $62 and $67 per barrel, down from $86.74 before his presidency began.
However, geopolitical risks may counterbalance these effects.
👉 Explore how macroeconomic shifts impact both crypto and commodity markets.
Geopolitical Tensions: A Price Support Mechanism?
Experts warn that Trump’s foreign policy—particularly toward Iran—could heighten regional instability.
Huang Liuman, Chief Analyst at Guotai Junan Futures, noted that Trump may revive his “maximum pressure” strategy, including:
- Authorizing Israeli strikes on Iranian infrastructure
- Reinstating strict sanctions on Iranian oil exports
- Supporting covert operations
Such actions could disrupt supply routes and temporarily spike oil prices. However, current market conditions limit lasting upside.
Zhang Mengqi from Hai Zheng Futures highlighted that OPEC nations now hold substantial spare capacity—5.1 million barrels per day across Saudi Arabia, UAE, Kuwait, and Iraq. This buffer can offset short-term supply shocks, as seen in 2018 when Saudi Arabia ramped up output after U.S. sanctions on Iran.
Moreover, global demand remains weak. The IEA, EIA, and OPEC have all revised down their 2024–2025 oil demand forecasts due to slowing economic growth and rising trade barriers linked to proposed U.S. tariffs.
Outlook: Crypto Up, Oil Down?
Looking ahead, divergent trends appear to be forming.
Bitcoin: Institutional Momentum Builds
With increasing political tailwinds and growing acceptance of digital assets as a macro hedge, Bitcoin is gaining traction as a store of value—similar to gold.
Key drivers include:
- Potential ETF inflows
- National reserve considerations
- De-dollarization trends
- Hedge against fiscal expansion
The combination of limited supply (only 21 million BTC ever) and rising demand creates a compelling long-term narrative.
Oil: Supply Glut Looms in 2025
In contrast, analysts expect crude markets to face headwinds in 2025.
Huang Liuman projects that Republican policies could exacerbate a supply surplus and weakening demand, leading to at least one significant downturn. He forecasts Brent crude could fall to $50–60 per barrel if economic conditions deteriorate further.
Short-term price action may still react to inflation narratives or Middle East tensions, but structurally, the market appears bearish.
Frequently Asked Questions (FAQ)
Q: Why did Bitcoin surge to $80,200?
A: The rally was fueled by optimism surrounding Donald Trump’s pro-crypto policies, including plans for a national Bitcoin reserve and reduced regulation—boosting investor confidence and institutional interest.
Q: What caused over 140,000 crypto liquidations?
A: Rapid price movements triggered margin calls on leveraged positions. Short sellers were particularly impacted as Bitcoin’s breakout forced massive short squeezes across exchanges.
Q: Is Trump really pro-cryptocurrency?
A: Yes. During his campaign, Trump advocated for pro-digital asset reforms, such as firing SEC Chair Gary Gensler and embracing blockchain innovation—marking a sharp shift from previous administrations.
Q: How might Trump’s energy policy affect oil prices?
A: Increased U.S. production and relaxed regulations are bearish for oil. However, heightened tensions with Iran could create short-term spikes due to supply disruption fears.
Q: Could Bitcoin really hit $200,000 by 2025?
A: While speculative, analysts like those at Standard Chartered cite growing institutional adoption and favorable policy shifts as key factors that could make this target achievable under the right conditions.
Q: Will oil prices keep falling?
A: Medium-term fundamentals suggest downward pressure due to oversupply and weak demand. Analysts project Brent crude could drop to $50–60/barrel in 2025 if current trends continue.
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As financial markets navigate a new era shaped by policy transformation and technological disruption, Bitcoin’s record run highlights a broader shift toward decentralized value systems—while traditional commodities like oil face structural challenges in an evolving global economy.