On Monday, Bitcoin achieved a new record of $88,448, marking an 11% increase in just 24 hours. Meanwhile, the broader market index, the CoinDesk 20 Index, lagged behind with its performance, particularly with Ethereum and Solana showing lesser gains.

Crypto equities, including Coinbase and MicroStrategy, experienced gains ranging from 20% to 30%. According to Fundstrat's head of digital assets strategy, the drastic price fluctuations are attributed to the sector's regulatory environment transitioning from strict regulations to a more supportive framework rapidly.

Bitcoin's market expansion coincided with the results of the most recent U.S. elections, with expectations for a favorable stance on cryptocurrencies anticipated under a new administration. Analysts observed that Bitcoin's market cap reached approximately $1.73 trillion, surpassing that of silver, following a favorable market sentiment related to spot ETFs that began earlier in the year.

The surge in Bitcoin prices has also led to significant performance in related equities, with MicroStrategy breaking past its historic highs from the dot-com era after it increased its total holdings to 279,420 BTC valued at over $24 billion. Sean Farrell of Fundstrat remarked, "Market might seem frothy to some but please understand that we just went from an objectively oppressive regulatory regime to an overtly friendly one overnight. Charts have every right to show step-function-like returns here."