Bybit, a cryptocurrency exchange, and Blocks Scholes published their latest institutional report with key takeaways from the U.S. election and the crypto market’s reaction to America’s first “crypto president.”

The publication noted that institutional investors have developed a desire to acquire more bitcoin with promising economic conditions, and potential rate reductions all favorably influencing bitcoin’s future, given its growing link with macro assets. The report analysis also showed bitcoin ETFs as the main drive for institutional adoption of bitcoin.

Examining Donald Trump‘s run to victory, the analysis looked at Trump’s embrace of bitcoin and the crypto industry, marking this election cycle as the first in which crypto played an important role.

Crypto companies used crypto political action committees (PACs) like Fairshake to donate almost $119 million to the federal campaigns of 2024. This inflow of cash accounted for 48% of all corporate funds used toward the election, illustrating the industry’s expanding power and role in politics. As a result, several newly elected members of both chambers of the 119th Congress are expected to play a major role in redefining the regulatory environment for cryptocurrencies and digital assets.

This embrace of the crypto industry by President Trump has seen BTC’s price surge from about $70,000 to over $95,000 in a matter of weeks, post-election. This volatility is viewed as a wider reflection of market emotion that is in line with positive political events rather than just being speculative.

Due of bitcoin’s dominance of the crypto market with over 50% market share, BTC rallies frequently involve possible gains in altcoins such as SOL and ETH. The dominance of Bitcoin has historically peaked during bull markets, after which investors move their money to altcoins in search of larger profits.

The report concludes by looking at the post-election drivers of the cryptocurrency markets in Q4 2024, ranging from the pace of rate cuts by the Federal Reserve to regulations for digital assets becoming more transparent and advantageous under a Republican-controlled U.S. Congress, which would encourage investment and innovation in the industry.

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