The cryptocurrency market experienced increased buying pressure on Wednesday as Donald Trump was elected the 47th U.S. President. Bitcoin saw a significant rise, climbing 8.8% to reach $75,400 and leading a recovery in the altcoin market.
Despite the overall market surge, Ethereum may face challenges in reaching a new all-time high. This is attributed to persistent selling by a major Ethereum whale, which could dampen potential price growth for ETH.
The ongoing selling activity by the ETH whale indicates a bearish sentiment, counteracting the positive momentum generated in the altcoin market post-elections.
