Bitcoin's value has increased by 6.8% in the past 24 hours, reaching $87,600, and there are hopes that it will surpass $100,000. Ethereum has also seen a rise of 3.3%, and many other altcoins have followed suit. While Trump's election win has been seen as a short-term catalyst for the surge, the long-term drivers behind the rise are believed to be broader trends such as a post-halving supply squeeze and favorable macroeconomic developments. Some experts have noted that Trump is viewed more favorably by the crypto community than the Biden administration.