This is the second time this year that Bitcoin has set a record – the leading cryptocurrency previously hit an all-time high in March, reaching $73,777. This put an end to the “crypto winter” that had lasted for several years.

The new all-time high of $75,000 had a positive impact on the entire cryptocurrency market, triggering altcoins to rise: Ethereum rose by more than 6% in 24 hours to $2,596, Cardano jumped by 9% to $0.3618, and Solana rose by 15% to $188. Popular meme coins also showed significant growth: Dogecoin jumped by more than 30% to $0.21885, and Shiba Inu rose by more than 12%.

Bitcoin's impressive surge is due to investor enthusiasm ahead of the US presidential election. Early election results have crypto investors optimistic that former President Donald Trump could return to the White House. The Republican candidate has positioned himself as a crypto enthusiast, embracing digital assets for his political campaign.

To prove his commitment to the crypto industry, Trump has promised to fire SEC Chairman Gary Gensler, who has been criticized by crypto companies for his reluctance to provide them with clear rules for regulating cryptocurrencies. Trump has also set an ambitious goal by promising to create a national reserve in bitcoin. In May, Trump began accepting donations in cryptocurrencies, including BTC, ETH, DOGE, and SOL.

According to Bernstein forecasts, if Donald Trump wins, the Bitcoin rate could exceed $90,000, and if Kamala Harris becomes US president, the first cryptocurrency will collapse to $50,000.