Bitcoin BTC Reaches New Milestone, Soaring Past $82,000, Fueled by Optimism Over a Potentially Favorable Regulatory Environment Following Donald Trump's Election as U.S. President

The cryptocurrency has more than doubled from its earlier low of $38,505 this year, peaking at $82,368.

Bitcoin (CRYPTO: BTC) price action Monday morning soared past $82,000, continuing a new leg up in 2023.

Several Bitcoin-linked exchange-traded funds (ETFs) followed suit with gains, while Ethereum (CRYPTO: ETH)-linked ETFs rose despite ETH/USD trading lower.

What Happened: Bitcoin-linked ETFs mirrored the upward trend Monday, as earlier reported by Benzinga Pro.

The Bitwise Bitcoin ETF (NYSE:BITB) rose 6.67%, the Grayscale Bitcoin Trust ETF (NYSE:GBTC) increased by 6.58% and the iShares Bitcoin Trust (NYSE:IBIT) saw a 7.21% gain.

In contrast, ETH/USD saw a slight decline of 0.61%, yet its associated ETFs showed positive movement.

The ProShares Ether ETF (NYSE:EETH) climbed by 8.28%, the Bitwise Ethereum ETF (NYSE:ETHW) went up 7.09% and the iShares Ethereum Trust ETF (NYSE:ETHA) increased by 8.42%.

See Also: Bitcoin Taps $81K, Ethereum, Dogecoin Extend Rally Over Weekend: Legendary Trader Projects Apex Crypto To Hit $125K By New Year

The election of Trump has sparked speculation about a more crypto-friendly regulatory environment, which could pave the way for further adoption and integration of digital currencies.

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