Bitcoin, the leading cryptocurrency by market value, jumped nearly 10% to record highs above $76,000 Wednesday, as the pro-crypto Republican candidate Donald Trump won the U.S. presidential election. Meanwhile, gold fell 3% to $2,658. As such, the BTC/gold (BTC/XAU) ratio surged 12% Wednesday, registering BTC’s biggest single-day outperformance relative to gold since Feb. 28, 2022, according to charting platform TradingView.
