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(Bloomberg) -- Bitcoin’s record-breaking rally took the digital asset past $89,000 and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationThe larges

With President-elect Donald Trump's Republican Party looking likely to claim a majority in both chambers of Congress, the so-called Trump trades are showing no signs of easing. Data provider DDHQ projected that the Republican Party had won a majority in the U.S. House of Representatives. Edison Research has not yet projected House control.

TOKYO (Reuters) -The U.S. dollar rose toward a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished near an almost seven-month trough reached overnight, and the yuan slumped to a more than three-month low with Europe and China both major targets of potential Trump tariffs. Trump has vowed to make the United States "the crypto capital of the planet".

The Trump trade was largely extended on Monday, with shares of Tesla, bitcoin, the US dollar, and US bank stocks all surging.

BTC's breakout has the market in a state of euphoria, QCP Capital said.

Coinbase shares surged to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange. Monitor these important chart levels.

Ed Yardeni said Trump's win bolsters the his thesis of a "Roaring 20s" for stocks. He also upped his 2024 S&P 500 price target to 6,100.

Chinese planemaker COMAC has rebranded its ARJ21 regional jet as the C909, aligning the plane with the state-owned firm's naming convention for its other models as it seeks to present itself as an alternative to dominant Western planemakers. The rebrand, which was unveiled at China's biggest air show in Zhuhai on Tuesday, features C909 painted in white on a blue tail. "After careful consideration, a long gestation and asking opinions of many involved parties, we chose to use C909 as a new commercial name to build the brand," Zhang Xiaoguang, COMAC's marketing director, told reporters.

Investors looking for signs of Trump-trade fatigue should watch the 10-year Treasury yield, JPMorgan says.

Bitcoin stood on the verge of $90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly. It is surging along with Elon Musk's automaker Tesla, which is up nearly 40% since voting results rolled in as investors figure Trump's friends and interests will do well while he is in office. "Obviously (it's) a clear Trump trade as he is so supportive of the industry, and this can only mean more demand both for crypto stocks as well as the currencies themselves," said Nick Twidale, chief market analyst at ATFX Global in Sydney.