Bitcoin has reached a new all-time high, surpassing $85,000, fueled by speculation that Donald Trump's return to the White House will lead to less regulation of cryptocurrencies. The cryptocurrency has more than doubled in value since January, driven by hopes of a more favorable regulatory environment. Traders believe that Trump's policies will be beneficial to the cryptocurrency industry.

The rally began after Trump's election victory and has continued to gain momentum. The price of Bitcoin reached a record high of $82,413 on Monday, before settling back to around $82,000.