Bitcoin surged to a new all-time high of $77,000 on Friday, reflecting heightened investor enthusiasm following Donald Trump‘s recent election victory and his commitment to fostering a more cryptocurrency-friendly administration.

The influx of capital into spot Bitcoin exchange-traded funds (ETFs) on Wednesday and Thursday significantly contributed to this price escalation. These ETFs, which directly hold Bitcoin, have been instrumental in driving the cryptocurrency’s value to unprecedented levels earlier this year.

Analysts are increasingly optimistic, with many forecasting that Bitcoin’s price could surpass $100,000 by the end of the year, given the current momentum and favorable market conditions.

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