Bitcoin hits new record and dollar gains as Trump trade gains momentum

Bitcoin hit a new record as results from the US Presidential election improved prospects for former President Donald Trump. The crypto asset soared to $75,000 on hopes of friendlier regulation. With polls closed in all states, the US dollar posted its biggest gain since February 2023, while stock futures soared. US treasury yields jumped as investors now turn their attention to the Federal Reserve’s two-day policy meeting Wednesday.