Bitcoin (BTC-USD) extends its rally fueled by former President Donald Trump's reelection, surging to a fresh record high above $86,000 and lifting other crypto-related stocks like Coinbase Global (COIN), MARA Holdings (MARA), and MicroStrategy (MSTR) along with it. Asymmetric founder, CEO, and CIO Joe McCann joins Asking for a Trend Host Josh Lipton to discuss his view that bitcoin will jump to $100,000 under Trump.

"There's a number of actual structural market forces at play right now behind the price of bitcoin," McCann says, naming Trump's unexpectedly winning the popular vote and the red sweep. "Given the amount of momentum that the Trump administration has from the crypto industry and its support, you're actually seeing, I think, a lot of buying outside of the United States as well, even though primarily the majority of the buying has been US-based and the reason is the strategic bitcoin reserve that they've actually floated."

Watch the video above for more about what Trump's second term means for crypto regulation and the US government's crypto approach.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Naomi Buchanan.