Bitcoin Rebounds Over $90,000 After 3% Weekend Decline, Growing 'Overheatd' Following Presidential Election

Benzinga 2024-11-18

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Bitcoin has rebounded after a 3% weekend drop, trading just above $90,000 as of midday Monday. The digital asset had a two-day retreat following optimism around President-elect Donald Trump’s pro-crypto policy agenda. One analyst noted Bitcoin became overheated after a strong rally since the US election, with much of the optimism already priced in. Analysts cite inflation risks from Trump’s proposed trade tariffs and tax cuts as tempering investor enthusiasm. Regulatory clarity could boost venture capital, mergers, and IPOs, but a US Bitcoin reserve remains unlikely.

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