Bitcoin’s record-breaking rally took the digital asset past $89,000 and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump. Bitcoin is in "beast mode," Chris Weston, Head of Research at Pepperstone Group, wrote in a note as the cryptocurrency’s total market cap surpassed that of silver. According to data from the Deribit exchange, investors are lining up bets in the options market that Bitcoin will pass $100,000 as soon as the end of the year.
Our Markets Reporter Valerie Tytel joins Stephen Carroll and Lizzy Burden on Bloomberg Radio with the details.
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