News on Crypto: BTC and ETH Surge Post US Election

News on Crypto: Raoul Pal Backs ETH Over Bitcoin Now

Bitcoin Rides Post-Election Surge

The cryptocurrency market has been invigorated by the recent U.S. presidential election, with Bitcoin leading the charge. Following Donald Trump’s victory as the 47th president, Bitcoin [BTC] surged past its previous all-time high, now trading at $76,121.63. This remarkable growth represents a 1.58% increase over the last 24 hours and an impressive 8.68% gain over the past week. The post-election optimism has boosted investor confidence, creating waves across the crypto market. This news on crypto has caught the attention of traders worldwide, showcasing Bitcoin's continued dominance in the market.

Ethereum’s Battle to Break $3k

Ethereum [ETH], the second-largest cryptocurrency, has also shown strong performance, crossing the $2,500 resistance and reaching $2,926.80. While ETH has not yet breached the $3,000 mark, it recorded a notable 12% increase over the past week. Raoul Pal, CEO of Real Vision, believes Ethereum could soon surpass Bitcoin in terms of growth due to regulatory shifts and the booming decentralized finance (DeFi) ecosystem. His analysis comes amid the latest news on crypto currency, which emphasizes Ethereum’s potential to gain ground in the market.

Why Raoul Pal Backs Ethereum Over Bitcoin

Pal's bullish outlook on Ethereum is supported by several key factors. The evolving crypto regulatory framework, particularly in the U.S., is becoming clearer, which could favor Ethereum’s integration into traditional finance. Ethereum’s central role in the DeFi space enhances its potential as DeFi tokens continue gaining traction. These developments could position Ethereum as a frontrunner, despite Bitcoin’s current momentum. This insight has sparked significant interest in news on crypto market trends and expert opinions.

Outlook: Will ETH Outpace BTC

Despite Bitcoin’s dominant rally, Pal remains firm in his view that Ethereum’s adaptability, reputation for security, and DeFi leadership could drive it to outperform Bitcoin as the market cycle progresses. This news on cryptocurrencies, coupled with Ethereum’s strong fundamentals, raises questions about its upcoming performance. As traders eagerly watch, the crypto market waits to see if Ethereum can break through the $3,000 barrier and challenge Bitcoin’s current supremacy.