Experts have attributed the current bullish atmosphere in the cryptocurrency market to Mr. Trump's victory and his campaign's positive stance toward the currency.

Bitcoin has continued its impressive surge, reaching $89,000 on Monday, just days after Donald Trump was declared the winner of the U.S. presidential election on November 5.

Over the past week, Bitcoin has gained more than 20 percent, peaking at $89,174. Meanwhile, Ethereum has also experienced a notable increase, rising over seven percent to $3,371.79.

The prices of other cryptocurrencies have similarly surged, as the broader cryptocurrency market has seen a significant boost following Trump's landslide victory over Vice President Kamala Harris in the election.

Throughout his campaign, Trump pledged to create a strategic reserve and positioned the U.S. as the potential “crypto capital of the planet.”

Experts suggest that the current bullish trend in the crypto market can be attributed to Trump's win and his campaign's pro-cryptocurrency stance.