Bitcoin has broken to fresh highs above $104,900 as this year’s rally continues to benefit from several tailwinds, including President-elect Donald Trump’s impact on markets.

The asset is up 3.5% on the day following a new record price of $105,004. It's now up more than 140% in a year and 15% higher over a 30-day period, according to CoinGecko data.

Bitcoin and the broader crypto market saw a significant uplift following Trump’s presidential victory in early November. While questions remain about whether a slew of new proposed policies slated for digital assets will become a reality, others are confident recent developments are fomenting momentum.