The price of Bitcoin surpassed $82,000, indicating that the crypto market's enthusiasm over the Trump election victory remains unabated.

• Citi strategists noted in a research note last week that crypto was one of the "rare Trump trades that has not yet retraced."
• During his presidential campaign, Donald Trump pledged several commitments to the cryptocurrency sector, one of which was to establish the United States as the global hub for cryptocurrencies.
• Some analysts predict that crypto will continue to increase in value, with many believing that bitcoin will reach the $100,000 mark by the end of the year.

On Monday, the cryptocurrency market reached another high, as the rally continued following the election of Donald Trump.

On Sunday, bitcoin reached a new record of $80,000, and by 6:58 a.m. ET, it had risen 3.6% to $82,216, as reported by Coin Metrics.

The decentralized finance token tied to ticked 2.7% higher, while payments coin took a breather. Additionally, other coins experienced a boost, with up 1.8%, trading around $3,204 after topping $3,000 over the weekend.

The value of memecoins and Shiba Inu coin increased by almost 11% and 5%, respectively.

Susannah Streeter, the head of money and markets at Hargreaves Lansdown, stated that the recent surge in cryptocurrency prices occurred during a period of "market euphoria" triggered by President Trump's victory last week.

She stated in a research note on Monday that his commitment to fully invest in cryptocurrency has led Bitcoin to new record highs.

"He has reversed his stance on supporting the industry and aims to transform the U.S. into the global hub for cryptocurrencies. Bitcoin investors are optimistic about a more lenient regulatory climate and anticipate that the government may establish a crypto reserve fund, thereby boosting demand."

Trump promised to make the U.S. the "crypto capital of the planet" and insisted that all bitcoin mining should occur within the country on the campaign trail.

Despite the fact that the president lacks the authority to remove Gary Gensler as Chairman of the U.S. Securities and Exchange Commission, he has vowed to oust him due to his aggressive stance on crypto.

Citi strategists noted in a research note last week that crypto was one of the "rare Trump trades that has not yet retraced."

David Glass and his team of strategists believe that part of the reason for the anticipated cryptofriendly nature of Trump's administration is to provide regulatory clarity in the U.S.

Since the election, spot crypto ETFs experienced their greatest inflows.

"The net inflows for BTC and ETH ETFs in the two days following the election were $2.01 billion and $132 million, respectively, according to the statement. They added that ETF flows continue to be the primary factor influencing Bitcoin returns."

Some analysts predict that crypto will continue to increase in value, with many believing that bitcoin will reach the $100,000 mark by the end of the year.