On November 6, Bitcoin (BTC) set price records three times in one day, closing the day above $76,000. This event caused a lot of excitement in the crypto market.

When BTC reached its latest peak, one user transferred 156,0801 BTC from an address that had not been active since it was created on July 29, 2017. At the time, Bitcoin was trading at $2,726, putting the value of the coins at $425,474. Today, those same 156 BTC are valued at a whopping $11.6 million.

Blockchair gave this transfer a privacy score of 50 out of 100, citing software limitations and the reuse of the same address in the input data.

In addition to the 2017 wallet, another dormant address created in 2013 came to life, bringing more than 100 bitcoins out of deep sleep. At block height 869,116, the user transferred 109.44 BTC, the first move since March 14, 2013.

The funds were sent in separate transactions, all of which were confirmed in a single block. The transfers received a low privacy rating, scoring 45 out of 100 on Blockchair. It is possible that the funds were moved from an outdated wallet to a new Pay-to-Script-Hash (P2SH) address.

As Bitcoin continues to rise in value, long-term holders will continue to re-evaluate their strategies against the backdrop of changing prices. They may even sell some of their coins, which, given the current shortage on the market, will immediately find a new owner.

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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.

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Bernstein emphasized that regardless of who takes over the White House, the Web3 industry will continue to attract investor funds. The crypto market will experience volatility until the results of the US elections are known.

“The Bitcoin genie is out of the bottle, and it will be very difficult to reverse. Our price target for the asset by the end of 2025 remains at $200,000, regardless of who wins the US election,” Bernstein said in a report.

According to analysts, the main factors driving the growth in the value of the first cryptocurrency will be the growing level of global financial debt, including in the US, and the devaluation of fiat currencies.

The policy of the US Securities and Exchange Commission (SEC) will also have a certain impact on the mood of investors and traders. If the aggressive rhetoric towards the crypto industry changes, leading digital assets will be able to demonstrate higher indicators than is commonly believed.

Earlier, analyst Michaël van de Poppe stated that crypto industry participants pay too much attention to the statements of politicians, while the real significant influence on the market is the statistics of the US labor market.

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