As of 3:30 p.m. Eastern time on the 27th on the U.S. cryptocurrency exchange Coinbase, Bitcoin's price per unit was trading at $97,374.48, up 7.37% from 24 hours ago.
Earlier on the 22nd, Bitcoin rose to a record high of $99,800 and then fell over the next four days, which was interpreted as the selling pressure to realize profits overwhelmed buying that expected further gains.
"Bitcoin has the potential to rise in the short term as well as in the medium term, with increasing adoption at the national level and with Trump's support," said Galaxy Digital, a virtual asset manager.
At the same time, Ethereum, the second-largest cryptocurrency market cap, also jumped 9.13% to trade at $3,619.06, while Dogecoin, floated by Tesla CEO Elon Musk, rose 7.17% and Solana rose 5.11%.
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