Bitcoin reached a historic milestone on Sunday, breaking past the $80,000 mark for the first time ever.

This surge was largely driven by speculation surrounding Donald Trump's possible return to the U.S. presidency, which traders believe could lead to eased regulations on digital currencies.

Since Trump's electoral victory over Democratic candidate Kamala Harris last week, Bitcoin has been on an upward trajectory, previously touching $75,000 on Wednesday.

Analysts like Charles Morris from ByteTree suggest that the cryptocurrency market is poised for growth, with expectations for Bitcoin to hit $100,000 within a year, according to Stephane Ifrah of Coinhouse.

Trump's campaign has emphasized his support for the cryptocurrency industry, a stark contrast to his earlier criticism.

He has even initiated his own platform, World Liberty Financial, although it saw a tepid initial market response.

Trump's earlier presidency was marked by policies that bolstered market liquidity, indirectly benefiting cryptocurrencies.

Notably, Trump recently made headlines by using Bitcoin for a public transaction in New York.

This event underscores the increasing mainstream use of Bitcoin, which continues to trade actively, including on Sundays.