Bitcoin is setting new records, surging past its previous all-time high – and taking the entire crypto market with it.

This latest rally has also brought bullish momentum to the meme coin space.

Dogecoin is back in the spotlight after a sizable push, while newer faces like Flockerz are catching the attention of investors seeking the next big thing.

Bitcoin’s Record-Breaking Surge Tied to Election Day Drama

Bitcoin’s latest surge has a political edge.

It broke past $75,000 overnight as the US election drama reached its peak.

BTC first hit $70,500, then shot to a new all-time high in the early hours.

As Trump’s electoral count began to pull away from Harris’, Bitcoin capitalized on the excitement since most traders view a Trump win as a bullish catalyst.

His comments about crypto at this year’s Bitcoin 2024 conference have boosted his stock in investors’ eyes.

But Bitcoin’s price action isn’t just down to political factors.

Despite an unusual wave of outflows from spot BTC ETFs – totaling $541 million – BlackRock’s IBIT stood out with $38.3 million in inflows.

This mixed institutional behavior has traders bracing for more price swings.

As it stands, the Crypto Fear & Greed Index is at 70 – firmly in “Greed” territory.

But with Trump now officially given the presidential win, there’s every chance this index (and Bitcoin) could rally even higher.

Meme Coins Soar Alongside Bitcoin’s Historic Rally

Meme coins are also benefiting from Bitcoin’s rally.

The total market cap of these coins has surged past $68.1 billion, with trading volumes rocketing 184% to over $20 billion in just 24 hours.

Leading the way is Dogecoin, the OG meme coin, which has spiked 17% to reach $0.202.

That’s DOGE’s highest point in seven months.

With this impressive run, DOGE is now the eighth-largest cryptocurrency in the world, boasting a market cap of over $