Bitcoin continues to move above $80,000 on Monday, a level reached on Sunday, still buoyed by Donald Trump’s victory in the United States, while the euro is weighed down by the government crisis in Germany.
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Around 10:50 GMT (11:50 CET), bitcoin climbed 7.41% to $82,204.19, after reaching a record price on Monday of $82,387.53.
Cryptocurrencies continue to soar with the victory in the American presidential election of Donald Trump, who promises to deregulate this sector, going against the trend of the more restrictive approach favored by current President Joe Biden.
The Republican has sworn to replace Gary Gensler, the head of the SEC, one of the policemen of the American financial markets, hated by the sector, for whom he “prevented any release of new products linked to cryptocurrencies without justification”, notes Stéphane Ifrah, analyst at Coinhouse.
However, this year the SEC authorized bitcoin and then ether ETFs in the United States, financial products backed by the price of these two cryptocurrencies.
Affected by the political difficulties encountered by Germany, the euro lost 0.17% against the pound around 10:50 GMT Monday, at 82.81 pence per euro, shortly after collapsing to a new low since April 2022, at 82.79 pence.
The single European currency fell by 0.40% against a particularly healthy greenback, to 1.0675 dollars per euro, to levels unexplored since last June.
Pressure is mounting in Germany for the rapid organization of early legislative elections, since the explosion, due to disagreements on the economy, of the government coalition initially formed by the social democrats of Chancellor Olaf Scholz, the ecologists and the liberals. .
Mr. Scholz said he was ready on Sunday, under conditions, to submit this year to the vote of confidence of the deputies, which he should lose, no longer having a sufficient majority in Parliament. As a result, the Bundestag should be dissolved within 21 days and new elections called within 60 days.
“Political unrest in Germany” weighs on the European currency, as the difficulties of governments in the country, as well as in France, prevent the European Union from adopting a clear direction, supported by strong leaders, believes Neil Wilson, analyst at Finalto.
This situation is all the more critical as Europe is exposed to the actions of Donald Trump, “both on the economic level” – a possible strengthening of customs duties – “and on that of national defense”, notes Kathleen Brooks, XTB analyst.
“If Trump abandons Ukraine, the fear is that this will encourage Russia to threaten Europe’s national security,” “an existential risk that weighs on the euro,” she warns.
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